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Peruvian fuel oil production up 49pc

20 Nov 2017, 7.31 pm GMT

Peruvian fuel oil production up 49pc

New York, 20 November (Argus) — Peruvian residual fuel oil production increased by 49pc to 58,885 b/d in the first nine months of 2017, compared with 39,532 b/d during the same period in 2016. The increase reflected a jump in the La Pampilla refinery crude utilization rate.

Fuel oil production from Repsol's 117,000 b/d La Pampilla refinery in Lima was up by 87pc to 37,517 b/d from 20,038 b/d on higher refinery utilization rates. Peru's Ministry of energy and Mines reported that Pampilla processed 105,185 b/d of crude, in the first nine months of 2017, compared with 67,216 b/d of crude processed during the same period in 2016. All of the crude processed in Pampilla was imported.

Fuel oil production was also up by 9pc to 16,771 b/d from the 65,000 b/d Talara refinery and up by 29pc to 3,338 b/d from the 12,000 b/d Conchan refinery. Peruvian state-owned PetroPeru owns the Talara and Conchan refineries.

Higher production boosted the country's residual fuel oil exports by 59pc to 44,558 b/d from January through September, compared with 27,993 b/d during the same period last year. The bulk of the exports were from the la Pampilla refinery – 33,018 b/d. PetroPeru exported 8,732 b/d.

Peruvian fuel oil exports to the US have doubled this year. The US Energy Information Administration data showed that the US imported 2.65mn bl of residual fuel oil from Peru during the period January through August 2017, compared with 1.31mn bl during the full year in 2016. Peruvian fuel oil imports to the US west coast picked up following shutdowns at the 330,000 b/d Salina Cruz refinery on Mexico's Pacific coast. Salina Cruz, which typically supplies the bulk of the resid sold for bunkering in Los Angeles, California was shut down from mid-June through the end of July because of a fire and from 7 September through the beginning of November after an earthquake. Aegean Marine imported 766,000 bl and Glencore 1.37mn bl of Peruvian resid to Los Angeles to be sold in the bunkering market. Aegean also imported 320,000 bl of Peruvian fuel oil to Newark, New Jersey, also for bunkering. Freepoint imported 195,000 bl to the US island of Puerto Rico for utility power generation.

Peru also sold 4,662 b/d of resid for local power generation and 3,181 b/d for local bunkering in the first nine months of the year.

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