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Uniper Energy DMCC joins Platts' Asia fuel oil MOC process

Uniper Energy DMCC joins Platts' Asia fuel oil MOC process
FILE PHOTO: A logo of German energy utility company Uniper SE is pictured in the company's headquarter in Duesseldorf, Germany, March 8, 2018. REUTERS/Thilo Schmuelgen/File Photo -
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Thilo Schmuelgen(Reuters)
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SINGAPORE (Reuters) – S&P Global Platts said on Friday it had added Uniper Energy DMCC, a unit of Germany-based energy trader Uniper, to its Asia Market On Close (MOC) assessment process for Asian fuel oil.

Uniper Energy will also be included in Platts’ price assessment process for Singapore and Fujairah physical bunker fuel, Platts said in a subscriber note.

Singapore is the world’s largest marine fuels market and serves as Asia’s pricing hub for fuel oil as well as other petroleum products including gasoline and diesel. Fujairah in the United Arab Emirates is also a regional bunker trading and storage hub.

Uniper Energy owns and operates two crude processing units in Fujairah that annually supply more than 4 million tonnes of low-sulphur marine fuel oils that comply with the International Maritime Organization’s 0.5% sulphur cap starting globally in 2020, as well as regional Emission Control Areas that limit sulphur content to 0.1%, according to the company’s website.

The MOC is used by Platts to assess the value of crude oil, petroleum products, including fuel oil, and related derivatives.

(Reporting by Roslan Khasawneh; Editing by Dale Hudson)

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