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Bangladesh finalises gasoil and fuel oil imports for 2015
December 8, 2014 / 10:58 AM / 3 years ago

Bangladesh finalises gasoil and fuel oil imports for 2015

DHAKA, Dec 8 (Reuters) - Bangladesh Petroleum Corp (BPC) has finalised imports of 2.5 million tonnes of gasoil and 840,000 tonnes of fuel oil with 10 suppliers for 2015, two company sources said on Monday.

State-owned BPC imported 2.85 million tonnes of gasoil and 860,000 tonnes of fuel oil in 2014.

For the first half of 2015, BPC has already negotiated lower premiums for the oil products than the current six month period after concluding negotiations with 10 companies, including two new suppliers Turkish Petroleum and Brunei Petroleum.

The premium for fuel oil 180-centistoke for the first half of next year will be $29.95 a tonne to Singapore spot quotes, down from $34 for current term cargoes and from $35 a year ago, BPC told Reuters last month.

BPC’s gasoil with 2,500 ppm sulphur contract for January-June period is at a premium of $4.50 per barrel over Middle East quotes, down from $4.80 per barrel for the second half of 2014.

Premiums for gasoil with 500 ppm were fixed at $4.60 a barrel over Middle East quotes, as the country aims to lower the sulphur content of its gasoil imports from January 2015, in line with a global move towards cleaner fuel.

Other suppliers for Bangladesh’s middle distillates contracts are Kuwait Petroleum Corp, Malaysia’s Petronas, Emirates National Oil Co, Philippines National Oil Co, Vietnam’s Petrolimex, Indonesia’s Bumi Siak Pusako, PetroChina and Unipec.

The BPC is also in talks with some other oil suppliers, including Maldives National oil Company and a Chinese company, to meet its growing demand for fuel. (Reporting by Ruma Paul; editing by David Clarke)

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