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Sinopec offers refineries sweeteners to boost clean marine fuel - sources

SINGAPORE, May 12 (Reuters) - China’s Sinopec Corp is offering its refineries incentives to boost their output of very low sulphur fuel oil (VLSFO) three sources with knowledge of the matter said, to grab a bigger share of the fast-growing marine fuel market.

The top Asian oil refiner is crediting its refineries 150 yuan ($23.35) for every tonne of VLSFO they produce, they said

The scheme, which started earlier this year, is aimed at motivating its plants to produce more VLSFO as a domestic diesel supply overhang idled some of the state oil firm’s refining capacities, the sources said.

Sinopec declined to comment. (Reporting by Chen Aizhu, editing by Louise Heavens)

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