Texas International Terminals is opening its own crude processing facility to make 50,000 bpd of low-sulphur fuels to comply with IMO 2020 rules, executives told Reuters.
The company plans to operate its own crude distillation unit (CDU) at a site in Galveston, Texas, producing bunker and gas oil for affiliate GCC Bunkers, which will supply crude and market the resulting fuels.
The previously undisclosed refining project, an unusual venture for a storage facility, will compete with big refinery operators such as BP, Chevron and Exxon Mobil, and startups such as Limetree Bay Refining. The plant aims to tap demand for very low-sulphur fuels.
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