Wednesday 23 May 2018

India firm sells fuel oil to Enoc at high premium

Singapore, August 26, 2009

India's Mangalore Refinery and Petrochemicals (MRPL) sold by tender 60,000 tonnes of 380-centistoke (cst) fuel oil for October loading to Emirates Oil National Company (Enoc) at a premium close to a 12-month high, traders said on Wednesday.

Enoc paid around $1 per tonne above Singapore spot quotes, on a free-on-board (FOB) basis, for the cargo loading on October 2 to 4.

MRPL last sold a 380-cst cargo for October 4 to 6 loading to Petronas at a premium of $1-$1.50 per tonne to Singapore spot quotes in September 2008.

Traders said the strong premium reflected the tight market conditions in the Middle East. – Reuters

Tags: India | Enoc | MRPL | fuel oil | Singapre |

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