In a significant move towards sustainable fuel solutions, Vitol has successfully completed its first biofuel bunker deliveries in Fujairah, UAE. marking a pivotal step in decarbonizing the maritime sector.
- Vitol Bunkers, Vitol’s wholly-owned bunker arm, executed the inaugural biofuel bunker deliveries on December 8th and 14th in Fujairah.
- The delivered B24 VLSFO was sourced from Vitol’s Fujairah-based refinery FRL and blended with locally-sourced biofuel at VTTI storage facilities.
- Certified biofuels, crucial for the maritime sector’s decarbonization efforts, actively contribute to reducing greenhouse gas emissions on a well-to-wake basis.
- Biofuels play a significant role in lowering a vessel’s Carbon Intensity Indicator (CII) and will be pivotal once shipping joins the EU’s Emissions Trading System (ETS) in 2024.
- The deliveries align with COP28, underscoring Vitol’s commitment to sustainability during global climate discussions.
- Vitol Bunkers expresses gratitude to the progressive sustainable policies of the port of Fujairah and the government of the UAE, which facilitated the successful biofuel deliveries.
This achievement reflects Vitol’s dedication to advancing sustainable practices and reinforces the role of biofuels in the ongoing efforts to reduce carbon emissions in the maritime industry.
Vitol, A leader in the energy sector with a presence across the spectrum; from oil through to power, renewables and carbon credits. Every day we use our expertise to distribute energy around the world. We source from producers, refiners and intermediaries and deliver to refineries, utilities, airlines and retail distribution networks as well as wholesalers and other traders. We manage the physical risk associated with moving energy.
Our business is global: we trade over 7 million barrels per day of crude oil and products and charter around 6,200 ship voyages a year. We also use our technical expertise to manage a global network of energy infrastructure that we deploy to help meet supply and demand flows worldwide. Our trading and logistical expertise is supported by a suite of propriety technology applications that we build and maintain in-house.
From more than 40 offices worldwide, we seek to add value across the energy supply chain, including deploying our scale and market understanding to help facilitate the energy transition. To date, we have committed over $2 billion of capital to renewable projects and sustainable energy solutions. The focus of our business is changing, and we are always looking for new people to help build the company for the next decade and beyond.