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United E&P Bitumen Supply Halves, Refineries Choose Fuel Oil

5/20/2026

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Summary

Story summary

United E&P said its bitumen supply fell about 50% in March, its worst disruption since COVID-19.
General manager Koh Chan Swee said the firm must prioritize projects with agencies and customers, noting Chinese bitumen is still too costly.
June Goh of Sparta Commodities warned that only heavier crude grades meet bitumen specs, forcing refineries to choose between bitumen and fuel oil as fuel oil demand stays strong.

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Story summary

United E&P said its bitumen supply fell about 50% in March, its worst disruption since COVID-19.
General manager Koh Chan Swee said the firm must prioritize projects with agencies and customers, noting Chinese bitumen is still too costly.
June Goh of Sparta Commodities warned that only heavier crude grades meet bitumen specs, forcing refineries to choose between bitumen and fuel oil as fuel oil demand stays strong.