An international ban starting July first, on the use of Heavy Fuel Oil ... simultaneously protecting the Arctic from oil spills. It allows ships with protected fuel tanks to use HFO until 2029.
Heavy oil, which is thicker and harder to extract than conventional oil, makes up more than two-thirds of the world's crude oil reserves, with China holding almost 20 billion tonnes of it.
Kuwait Oil Company (KOC) has announced the addition of 90,000 barrels of heavy crude to its production, with more to come. Last week, the company revealed the discovery of heavy oil in the northern ...