Singapore braced for looming fuel oil deadline
Market backwardation and IMO 2020 adjustments balance storage trends
The Asia-Pacific oil storage sector is facing two countervailing trends in rough balance as it moves into late 2019. Backwardated markets—when spot prices exceed forward contract prices—are discouraging inventory builds, while January 2020's switch to new International Maritime Organization (IMO) fuel oil sulphur content rules is encouraging increased fuel oil and components storage. Looking to a more distant horizon, leading independent oil storage companies highlight a growth in gas and chemicals storage over oil products tankage. Industry officials have broadly focussed on fuel oil storage trends. "The reality is that this industry is in transition. For a period, you may not get double st
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
