March 25, 2019 / 12:41 PM / 4 months ago

Exxon sees high sulphur fuel oil demand to decline 25 percent

March 25 (Reuters) - Exxon Mobil Corp expects fuel oil demand to fall 25 percent by 2025 due to a new set of emission regulations that will commence next year, a top-level official at the U.S. oil and gas company said on Monday.

A new 0.5 percent sulphur content cap in shipping fuel set by the International Maritime Organisation (IMO) will come into effect in 2020.

The International Energy Agency has forecast high-sulphur fuel oil demand will fall 60 percent next year, while marine gasoil demand will more than double.

Exxon President Bryan Milton was speaking at the Scotia Howard Weil energy conference in New Orleans on Monday. (Reporting by Arundhati Sarkar in Bengaluru; Editing by James Emmanuel)

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