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Argentina fuel oil production, bunker sales down

15 May 2017 20:28 (+01:00 GMT)
Argentina fuel oil production, bunker sales down

New York, 15 May (Argus) — Residual fuel oil production at YPF's 189,000 b/d La Plata refinery in Argentina declined following the installation of a coker in September 2016. La Plata's fuel oil output averaged at 164,102t per month the first half of 2016 and dropped by 23pc to 126,088t per month in the second half of 2016, according to Argentina's Petroleum and Gas Institute. La Plata produced 95,958t fuel oil in January and 101,422t in February this year. The coker propped up the refinery's gasoil output by 19pc from a monthly average of 228,267m3 in the first half of 2016 to an average of 271,151m3 in the second half. The coker also drove up production of petroleum coke by 31pc from 25,501t to 33,434t.

Argentina's fuel oil output is expected to decrease further because Axion Energy commissioned the construction of a coker at its 87,000 b/d Campana refinery, which is expected to be completed in October 2018. Campana produced 53,938t and 64,882t of resid in January and February this year, respectively. The refinery's 2016 monthly average residual fuel oil production was at 50,904t.

In January and February Argentina produced 545,353t of residual fuel oil, down by 25pc year on year. Despite its drop in residual fuel oil output, La Plata refinery remained the biggest producer of resid in Argentina. Shell's 110,000 b/d Dock Sud refinery came in second with 152,477t of resid and Axion Energy's Campana refinery third with 105,432t in the first two months of the year.

In January and February Argentina sold 102,510t of heavy bunker fuel down by 36pc compared from 159,044t during the same period last year. MGO sales were down by 8pc from 77,642m3 to 71,760m3. YPF accounted for the bulk of the heavy bunkers sales in January and February with 35,608t, followed by Shell with 26,259t, ExxonMobil with 21,283t, Petrobras with 18,464t and Oil Combustibles with 891t. During this period, YPF sold 49,638m3 of MGO, ExxonMobil sold 21,985m3 and Shell – 123m3.