Fuel oil, also referred to as Heavy Oil or Residual Fuel Oil, is a residue obtained from the distillation of crude oil during the refining process. Fuel oil is commonly used as feedstock for refineries but is also commercially sold for power generation for either large vessels or electric utilities. Depending on the customer, our fuel oil trading operation has the capability to meet multiple specifications, tailoring blends to individual customer needs and requirements. Novum creates customer solutions on fuel oil needs anywhere, anyplace, anytime. With an array of expertise and knowledge globally, we craft bespoke results from start to finish in oil sourcing and supply, tailored blending specifications, solving complex logistical and delivery challenges, offering creative and extensive credit capabilities, and more. The company manages break bulk supply storage, blending, and reshipment through Novum’s vessel fleet, allowing for on time deliveries and flexibilities others cannot. From very low sulfur fuel oil for marine grade specifications to high sulfur utility grade fuel oil, Novum has short lead times and fast responses to new and unplanned needs while managing long term, reliable supply security.
Total BOE traded through 2022
Storage Locations around the world
BBLs Storage Capacity
Vessels Time Chartered Fleet
BBLs Fuel Oil traded through 2022