Wednesday, August 13th, 2025
Home »Fuel and Energy » Pakistan » PSO buys 440,000 tonnes fuel oil from Saudi Arabia and UAE

  • News Desk
  • Feb 4th, 2005
  • Comments Off on PSO buys 440,000 tonnes fuel oil from Saudi Arabia and UAE
Pakistan State Oil (PSO) has bought eight cargoes of fuel oil, totalling 440,000 tonnes, from Saudi trader Bakri Trading and the United Arab Emirates' FAL Oil, industry sources said on Thursday. FAL Oil sold five cargoes of 55,000 tonnes each, including one 125-centistoke (cst) and four 180-cst parcels, for February-April delivery into Port Qasim (FOTCO Terminal) in Karachi.

The cargoes were sold on a cost-and-freight basis (C+F) at premiums of 22.25 dollars to 35.75 dollars a tonne to Singapore spot 180-cst quotes.

The 125-cst parcel for March delivery was done at a premium of 35.73 dollars a tonne. One of the 180-cst cargoes with a Conradson carbon residue (CCR) of 12 percent was done at a premium of 28.99 dollars a tonne and was for delivery in February 17-19.

The other three 180-cst cargoes were optional with a CCR of 16 percent, priced at a premium of 22.44 dollars a tonne and were for delivery in March and April.

Bakri sold the other optional three 180-cst cargoes, for March to April delivery, at premiums of 27.33 dollars a tonne to Singapore spot 180-cst quotes.

All the three cargoes have CCR of 12 percent.

PSO last bought a similar total volume of cargoes for January-March delivery, including six from Bakri and two from UAE trader D&K Petroleum.

The eight cargoes of 125-cst to 180-cst and 12-16 percent CCR were done at premiums of 11.88 dollars to 31.88 dollars a tonne.

Copyright Reuters, 2005


the author

Top
Close
Close