American refiners are preparing for a busy overhaul season in the second quarter of the year as the entry into effect of the new International Maritime Organization’s emission rules approaches. Reuters cites data from the Energy Information Administration that total U.S. production of refined production has fallen 8.5 percent since the start of the year, suggesting it has yet to fall further. The aim is to avoid the need for maintenance closures ahead of winter this year. The new IMO emission rules cap sulfur emissions from bunkering fuel at 0.5 percent, which is a substantial reduction on the current 3.5-percent cap. As a result, refiners have raced to prepare for the demand for new, lower-sulfur fuels. Many see the upcoming changes as the most important to hit the refining industry in quite a while. Last month, the International Energy Agency said in its annual Oil 2019 report, “The 2020 […]