Fuel oil, which is the residue from distilling crude oil during the refining process, refers to a range of the least volatile and heaviest of the commercially used fuels.

Some 10% of fuel oil produced is used to power large ships. A further 15% is used for heating and the remainder is used by refineries as feedstock for further upgrading.

Strong relationships are central to our fuel oil business and they enable us to respond efficiently to the requests of our customers. We have in-depth awareness of market developments through our activities in all the major oil trading forums. Complementing this with our worldwide network, we have both a global perspective and local insight into real time market dynamics.