Home > Energy & Power > Oil and Gas > Bunkering > Very Low Sulphur Fuel Oil (VLSFO) Market

Very Low Sulphur Fuel Oil (VLSFO) Market Share

Report ID: GMI6304
Published Date: Jul 2023
Report Format: PDF

Download Free Sample

Very Low Sulphur Fuel Oil Market Share

The major industry players operating in very low sulphur fuel oil market are

China Petroleum & Chemical Corporation (Sinopec)
BP PLC
Shell Plc
Chevron Corporation
Saudi Arabian Oil Co. (Saudi Aramco)
Indian Oil Corporation (IOCL)
TotalEnergies
Exxon Mobil Corporation
ROSNEFT
Mediterranean Fuels
Hindustan Petroleum Corporation Limited (HPCL)
Vitol
VIVA ENERGY GROUP
Phillip 66
Marathon Petroleum

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of very low sulphur fuel oil reached USD 48.6 billion in 2022 and will witness 19% CAGR from 2023 to 2032, due to the implementation of IMO 2020 regulations for significant reduction in sulfur emissions from ships.

Asia Pacific market size is estimated to cross USD 131.9 billion by 2032, owing to the adoption of the International Maritime Organization's (IMO) 2020 regulations in the region.

China Petroleum & Chemical Corporation (Sinopec), BP PLC, Shell Plc, Chevron Corporation, Saudi Arabian Oil Co. (Saudi Aramco), Indian Oil Corporation (IOCL), TotalEnergies, Exxon Mobil Corporation, ROSNEFT, and Mediterranean Fuels are some of the key companies.

The COVID-19 pandemic had limited impact on the very low sulphur fuel oil industry owing to the introduction of IMO 2020 norms that made it mandatory for the shipowners to utilize the low sulphur fuel in the ships.