23AUG2019 - NEWS - West African oil hits sweet spot as shipping upgrades to cleaner fuel

African states like Chad and Cameroon are shaping up to be big winners from new rules to cut sulfur emissions from ships, providing just the right type of oil to produce cleaner fuels. Only around 1% of the world’s crude oil exports are heavy and sweet varieties, ideal for refining into fuel with a maximum 0.5% sulfur content mandated by International Maritime Organization (IMO) rules coming into force worldwide on Jan. 1. The regulations will tighten limits from the 3.5% sulfur levels allowed now, aiming to improve human health by reducing air pollution. West African oil, mostly outside the continent’s top exporter Nigeria, is set to provide the “Holy Grail” for these IMO 2020 fuels, according to market research firm ClipperData.