MRC -- Kuwait Petroleum Corp (KPC) has ramped up its spot tenders for high-sulfur fuel oil (HSFO) sales this month, with the latest one closing on Friday, said trade sources, said Hydrocarbonprocessing.
The increase in HSFO export tenders came as domestic requirements for HSFO to be used for power generation eased.
In its latest spot tender, KPC is offering 80,000 metric tons of 380-cst HSFO with 2.5% maximum sulfur content, for loading between Oct. 29 and 30, said trade sources.
The tender closes on Friday at noon Kuwait time, with validity until 23:00 Kuwait time. This came on top of three spot HSFO tenders issued for October loading so far, each of 60,000 tons.
The number of HSFO cargoes offered for October has risen compared to previous months this year, with typically zero to two HSFO cargoes offered per month, tender records showed.
We remind, Navigator CO2 Ventures has canceled its Heartland Greenway pipeline project aimed at capturing 15 million metric tons of carbon dioxide annually from Midwest ethanol plants and storing it permanently underground, the company said on Friday, citing "unpredictable" state regulatory processes. The cancellation of one of the biggest projects of its kind is a setback to the development of carbon capture and storage (CCS) projects in the U.S., which are a pillar of President Joe Biden's climate strategy. It is also a blow to the ethanol industry, which sees CCS as key to cutting emissions from producing the fuel.