DUBAI - The United Arab Emirates' Brooge Petroleum and Gas Investment Co (BPGIC) said on Monday that it plans to set up an oil refinery in Fujairah to produce bunker fuel that complies with new international laws capping sulfur content in shipping fuels.
The first phase of the planned 250,000 barrel per day (bpd) refinery will be completed in the first quarter of 2020, the company said in a statement.
New regulations from the International Maritime Organization (IMO) will require ships to use fuels with a sulfur content below 0.5% beginning in 2020. Current shipping fuel is much dirtier, with a higher sulfur content.
(Reporting by Rania El Gamal; editing by Jason Neely) ((email@example.com; +971 562 160 434; Reuters Messaging: firstname.lastname@example.org ; Twitter: https://twitter.com/Rania_ElGamal))