Legion Oil & Gas LLC will make a report on the bitumen industry in Europe, Russia and CIS at the Argus Africa Roads Conference 2019. The Conference takes place from June 26th to 27th in Nairobi, Kenia.
“The new IMO 2020 restrictions will reduce demand for high-sulfur fuel oil and lead to changes in the oil market. Some European refineries have already refocused on refining light oil products from fuel oil, while refineries in Russia and CIS tend to produce more bitumen”, Legion Oil & Gas LLC managing director Yury Burenko says. “Moreover, the bitumen duty in Russia is expected to fall from 100 USD/Mt to 0 USD/Mt in the next 5 years, as the Russian tax system changes. This will also encourage production of bitumen.”
The report from Legion Oil & Gas LLC will also include the following issues:
- How regulatory changes will affect on the bitumen market in Europe, Russia, and CIS in terms of production, quality and price.
- Available capacities in Russia and CIS – can Russia increase bitumen production taking into account IMO 2020 restrictions and falling fuel oil demand?
- What are the logistical problems and bottlenecks for bitumen exports from Russia?
- Intraregional trade flows are geopolitical difficulties and dependencies.
Other industry speakers will address a range of topics including updates on the road and bitumen infrastructure in East Africa:
- Road developments and investments in East Africa, focusing on Kenya and Tanzania.
- Impact of Iranian sanctions and alternative supply sources for east African road projects.
- Growing appetite for bitumen and bitumen infrastructure in east Africa.
The participants will include delegates from Shell, MENA Energy, Cinergy, TEC Container Solutions and others.
Legion Oil & Gas LLC is an international niche oil products trading company working with all bitumen producers in Russia and supplying EN-certified ordinary bitumen and polymer-modified bitumen to European consumers. Legion Oil & Gas LLC offers road and roofing bitumen as well as niche bitumen products, including joint tapes, mastics, and sealants. You are welcome to contact our managing directors per email: info@legionoilandgas.com.
