Witmer, T.
Thomas Witmer is a consultant for EnSys Energy, where he supports technical and business strategy throughout the upstream and downstream. His most recent assignments include analysis of marine fuels issues and the US Strategic Petroleum Reserve. He holds BS degrees in industrial engineering and finance from Lehigh University, and is an active member of the Society of Petroleum Engineers.
Business Trends: Anticipated market and pricing impacts from new marine fuel regulations
In October 2016, the International Maritime Organization (IMO) announced that it will implement a new regulation that calls for the sulfur content in marine fuels to be reduced from 3.5% to 0.5%. The new regulation will go into effect in January 2020. This action by the IMO will have a profound impact on the maritime and refining industries worldwide, as well as on the environment. This month’s Business Trends section provides an overview on the anticipated impacts of the IMO’s decision on petroleum product markets.
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