An analyst forecasts that sales of Angolan oil to China will pick up in September in anticipation of a change in the standard for marine fuel on January 1, Reuters reports.
The news agency says the International Maritime Organization will cut to 0.5 percent from 3.5 percent the maximum amount of sulphur permitted in fuel burnt by merchant ships, with a view to reducing air pollution.
The report says Angolan grades of crude oil – such as Cabinda, Kissanje and Hungo – are especially suitable for making low-sulphur fuel.
The analyst quoted, Ehsan Ul-Haq, who works for compiler of financial data Refinitiv, thinks a recovery in refining margins for diesel and jet fuel will also spur demand for Angolan crude among independent refiners in China, Reuters says.
Separately, the Portuguese news agency, Lusa, reports that China bought 61.6 per cent of Angolan oil exports in the second quarter of this year.
