• Initiative -
  • Type Instant Insight
  • Date 12th December 2019
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Abstract

January 1, 2020 marks the enforcement of the International Maritime Organization’s (IMO) rule on limiting sulfur emissions from ships (IMO 2020). The rule mandates ships to reduce the sulfur content in their fuels to 0.5% from the current 3.5%. This suggests that ship owners and operators need to replace about 3 million barrels per day (MMb/d) of heavy fuel oil (HFO) with high sulfur content – known as high sulfur fuel oil (HSFO).

Authors

Rami Shabaneh

Senior Research Associate Rami Shabaneh is a senior research associate with a focus on global gas and hydrogen markets. Rami has nearly 15… Rami Shabaneh is a senior research associate with a focus on global gas and hydrogen markets. Rami has nearly 15 years of research and industry experience analyzing energy markets and energy policy. Before joining KAPSARC, Rami worked at Cenovus Energy as a market fundamentals analyst, providing analytic support on specific issues affecting North American gas, natural gas liquids and condensate markets. His work informed the company’s hedging strategies. Before working at Cenovus Energy, Rami spent three years as a research economist at the Canadian Energy Research Institute. He holds a B.Sc. in actuarial science and an M.Sc. in sustainable energy development from the University of Calgary.  

Expertise

  • Natural Gas and Hydrogen

Publications See all Rami Shabaneh’s publications

Hamid M. Al Sadoon

Senior Research Associate Hamid leads KAPSARC’s Oil Market Outlook (KOMO). He previously worked as an oil demand analyst at Saudi Aramco, with a… Hamid leads KAPSARC’s Oil Market Outlook (KOMO). He previously worked as an oil demand analyst at Saudi Aramco, with a focus on long-term and short-term oil forecasting and pricing. Between 2012-2016, Hamid was a negotiator for the Saudi climate change team at different United Nations bodies.  

Expertise

  • Oil Demand
  • Climate Change
  • Modeling
  • Economy

Publications See all Hamid M. Al Sadoon’s publications

Raed Mestneer

Research Associate Raed is a research associate in the Markets and Industrial Development program, with a particular interest in industrial development, economic diversification,… Raed is a research associate in the Markets and Industrial Development program, with a particular interest in industrial development, economic diversification, and econometric modeling.  He has worked with different types of econometric modeling techniques on different projects, especially in the field of economic diversification and oil prices. Prior to joining KAPSARC, Raed worked for Standard & Poor's analytics division, where he was involved in designing the first probability of default model tailored to the Saudi economy. Raed is the author of the 2012 book, Does the U.S. Dollar Have an Effect on the Price of Oil? He earned his Ph.D. in Economics from Southern Illinois University and was awarded a Master of Science in Economics from California State Polytechnic University. The title of his dissertation was "Economic Diversification: The Case of Saudi Arabia with Reference to Rich Natural Resource Countries.”

Expertise

  • Economic Development
  • Economic Diversification
  • Macroeconomic Analysis and Oil Markets.

Publications See all Raed Mestneer’s publications

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