Shanghai International Energy Exchange (INE) approved PetroChina International Middle East as overseas storage facilities for lower Sulphur fuel oil (LSFO) futures, according to a press release.
INE elaborated that the approved storage capacity is 100,000 tons, while the active storage capacity is 40,000 tons. It added that the exchange will track and review the market developments to adjust the storage capacity for LSFO contracts.
