In an initiative to reduce air pollution, International Maritime Organization (IMO) restricts ships to use fuel with not more than 0.5% of sulfur from 2020 in comparison to the current 3.5 percent of sulfur usage in fuel. Reportedly, Chevron Corporation (CVX) plans to introduce shipping fuel at the end of the third quarter with 0.5 percent of sulfur, in line with the IMO regulation.
Monique Vermeire, Chevron Fuels Technologist stated “If the shipping company is willing to try it out now we can make it available, but not for continuous purchase,” as per reports.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!