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Reliance wins Sri Lanka gasoline tender
Singapore, Jan 19: Reliance Industries Ltd won a tender to supply Sri Lanka a combined cargo of gas oil and gasoline for delivery to Colombo on February 20-21, said an official from state-owned Ceylon Petroleum Corp (Ceypetco).
Singapore, Jan 19: Reliance Industries Ltd won a tender to supply Sri Lanka a combined cargo of gas oil and gasoline for delivery to Colombo on February 20-21, said an official from state-owned Ceylon Petroleum Corp (Ceypetco).
He said the 0.25 per cent gas oil was pegged at $1.50 a barrel over Singapore spot gas oil quotes and the premium for the 90-octane and 95-octane gasoline stood at $2.40 a barrel to Singapore benchmark gasoline prices. The prices were on a cost-and-freight (c&f) basis.
Since the tender was issued, Ceypetco has changed the breakdown of the volumes in the tender although the overall volume remains at 300,000 barrels, the official said.
He said Sri Lanka was short of 90-octane gasoline.
It has raised the requested volume of 90-octane gasoline to 80,000 barrels from 40,000 barrels and has cut its 0.25 per cent sulphur gas oil requirement to 180,000 barrels from 220,000 barrels.
It has maintained its demand for 95-octane gasoline at 40,000 barrels, he said.
An 11.6 metre (38 feet) sea depth at the Colombo port generally restricts cargo sizes to 300,000 barrels.
Vitol was awarded the most recent gas oil/gasoline tender, in which Ceypetco bought 220,000 barrels of 0.25 per cent gas oil and 80,000 barrels of 90-octane gasoline for delivery into Colombo on January 25-27.
The gas oil was priced at $1.75 a barrel over spot quotes and the gasoline at $2.45 a barrel over Singapore benchmark gasoline prices, both on a c&f basis.
Bureau Report
He said the 0.25 per cent gas oil was pegged at $1.50 a barrel over Singapore spot gas oil quotes and the premium for the 90-octane and 95-octane gasoline stood at $2.40 a barrel to Singapore benchmark gasoline prices. The prices were on a cost-and-freight (c&f) basis.
Since the tender was issued, Ceypetco has changed the breakdown of the volumes in the tender although the overall volume remains at 300,000 barrels, the official said.
He said Sri Lanka was short of 90-octane gasoline.
It has raised the requested volume of 90-octane gasoline to 80,000 barrels from 40,000 barrels and has cut its 0.25 per cent sulphur gas oil requirement to 180,000 barrels from 220,000 barrels.
It has maintained its demand for 95-octane gasoline at 40,000 barrels, he said.
An 11.6 metre (38 feet) sea depth at the Colombo port generally restricts cargo sizes to 300,000 barrels.
Vitol was awarded the most recent gas oil/gasoline tender, in which Ceypetco bought 220,000 barrels of 0.25 per cent gas oil and 80,000 barrels of 90-octane gasoline for delivery into Colombo on January 25-27.
The gas oil was priced at $1.75 a barrel over spot quotes and the gasoline at $2.45 a barrel over Singapore benchmark gasoline prices, both on a c&f basis.
Bureau Report