Bangladesh to Buy Oil Products for H2 2017 at Lower Premiums: Sources
Dhaka. Bangladesh Petroleum Corp has fixed contracts with 10 companies for refined oil product imports in the second half of 2017 at lower premiums than the current term deals, two company sources with direct knowledge of the matter said on Wednesday (21/06).
The state-owned company was seeking to buy 1.65 million tons of gasoil with a sulfur content of 500 parts per million, 245,000 tons of jet fuel and 200,000 tons of 180-centistoke high-sulfur fuel oil in 2017 under the term contracts.
The premium for gasoil for the July to December period will be $2.20 a barrel over Middle East quotes, the sources said. That is down from $2.30 a barrel for the first half of this year.
BPC's term contract for jet fuel was fixed at a premium of $2.80 per barrel over Middle East quotes, the sources said, down from $3 a barrel during the January-June period.
For fuel oil, BPC will pay a premium of $29.73 a ton to Singapore spot quotes for the second half of the year, they said. That is up from the premium of 15.80 it is paying for the first-half cargoes.
Kuwait Petroleum Corp will supply the bulk of the contract with 1.02 million tons of gasoil and 210,000 tons of jet fuel, BPC officials said.
Malaysia's Petronas will supply 210,000 tons of gasoil, 60,000 tons of fuel oil and 15,000 tons of jet fuel.
PetroChina will supply 120,000 tons of gasoil and 40,000 tons of fuel oil and Unipec will supply 120,000 tons of gasoil.
Other sellers include Emirates National Oil Company, Philippines National Oil Co, Vietnam's Petrolimex, Thailand's PTT, Indonesia's Bumi Siak Pusako and Zhenhua Oil.
Reuters
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