Asia Fuel Oil-Indian Oil, Essar offer mid-Aug lots

SINGAPORE, July 14 (Reuters) - Indian Oil Corp (IOC) is offering via tender 35,000 tonnes of 380-centistoke (cst) fuel oil for Aug 13-16 loading, while Essar Oil is offering 60,000 tonnes of 180-cst fuel oil for Aug 12-16 lifting, traders said on Tuesday.

IOC's tender closes on July 21, while Essar's offer closes on Friday.

"We usually see higher volume of exports from India during the monsoon season, as domestic consumption and asphalt demand are lower, but this time round, exports are down, as most of the domestic refineries have cut runs," said a Singapore-based Western fuel oil trader.

IOC last sold 30,000 tonnes of 380-cst fuel oil for July 13-17 lifting from Chennai to Westport at a discount of $5.50 per tonne to the IOC formula, on a free-on-board (FOB) basis.

This represents a smaller discount compared to an earlier deal, when it sold a cargo for June 26-29 lifting to BP at a discount of $6-$7 per tonne to the IOC formula, FOB.

Essar last sold 60,000 tonnes of 180-cst fuel oil for July 28-Aug 1 lifting from Vadinar to FAL Oil at an undisclosed price. (Reporting by Jennifer Tan)