Asia Gasoil-Indian Oil Seeks More Diesel to Plug Supply Gap
Indian Oil Corp (IOC) is seeking up to 94,000 tonnes of diesel for April delivery to various Indian ports to plug a supply gap, traders said on Wednesday.
This comes at a time when a diesel supply glut is easing slightly due to the start of the refinery maintenance season in North Asia this month.
IOC is looking to buy with up to 40,000 tonnes of diesel to be combined with up to 10,000 tonnes for April 14-16 arrival at Chennai and Haldia.
It is also seeking up to 12,000 tonnes to be combined with up to 32,000 tonnes for April 18-20 arrival at Mumbai and Kandla.
The purchase tender for the fuel, with 320 part per million sulphur content, will close on March 29.
IOC had recently sought a total of 60,000 tonnes of diesel of 320ppm grade and 40ppm grade for April 6-8 delivery to Vizag and Ennore through a tender which closed on March 22.
But results of the tender were not known.
(Reporting by Seng Li Peng)
