S. Korea Fuel Purchases Soar
S. Korea Fuel Purchases Soar

S. Korea Fuel Purchases Soar

S. Korea Fuel Purchases Soar

South Korea’s move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand.

South Korea’s Trade Ministry said in February it would suspend five coal-fired power plants, with a combined capacity of 2.32 gigawatts, from March to June, part of a broad campaign to reduce pollution, Reuters reported.

That plan may backfire, at least in the short run. A cold winter has raised power and heating demand, forcing utilities to burn more fuel oil to meet demand.

A byproduct of the crude oil refining process, fuel oil’s biggest use ahead of power generation is as a shipping fuel.

“In the near term, fuel oil imports will increase to make up for the shortfall in coal-fired generation capacity,” said Pat Markey, managing director of consultancy Sierra Vista Resources.

Fuel oil imports by power producers into Asia’s fourth largest economy have jumped to 200,000 tons in March so far, up from 92,000 tons in February, tender data compiled by Reuters showed.


Short URL : https://goo.gl/c5JwBk
  1. https://goo.gl/gLG2fM
  • https://goo.gl/JA3TgG
  • https://goo.gl/ZLuFQG
  • https://goo.gl/48xCxG
  • https://goo.gl/NgeB9g

You can also read ...

More Iranian Oil Tankers Head to China
An unprecedented volume of Iranian crude oil is set to arrive...
US Intimidates Iraq to Kill Siemens Deal in Favor of GE
The Trump administration intervened to quash a $15 billion...
Asia Natural Gas Prices Rising
Asia's liquefied natural gas prices are set to go up on the...
Turkey Refiner Seeking Waiver for Iran Sanctions
Turkey’s top refiner, Tupras, is in talks with US officials to...
Iran Awaits CNPC Decision on South Pars
Terminating its contract to develop Iran's giant South Pars...
Iran: Contract Signed to Boost Oil Output in Sirri Region
Crude oil production in Sivand, Esfand and Dena offshore...

Add new comment

Read our comment policy before posting your viewpoints