May 5, 2017 / 9:46 AM / in a year

UPDATE 1-Bangladesh Petroleum seeks up to 1.06 mln T oil products

(Adds comment from BPC official; background)

By Jessica Jaganathan and Ruma Paul

SINGAPORE/DHAKA, May 5 (Reuters) - Bangladesh Petroleum Corp is seeking up to 1.06 million tonnes of gasoil, jet fuel and high sulphur fuel oil, a tender document showed on Friday.

The state-owned company is seeking 680,000 to 860,000 tonnes of 500ppm sulphur gasoil, 100,000 tonnes of jet fuel and 80,000 to 100,000 tonnes of 180-cst high sulphur fuel oil.

The tender closes on May 16 and is valid until July 29.

The delivery of the cargoes will be carried out in phases in the second half of this year, said a senior BPC official.

Some volumes will also be imported through separate term deals, he told Reuters, without giving details.

BPC started issuing tenders for its long-term contracts in February after a 15-year hiatus, during which it directly negotiated with suppliers of fuel products.

It wants to move away from direct deals as part of efforts to buy at cheaper rates through international tenders.

China’s Unipec won the previous tender to supply gasoil and jet fuel to Bangladesh for delivery in the first half of 2017, at premiums of $2.16 and $2.08 a barrel above Middle East quotes for gasoil and a premium of $2.76 a barrel for jet fuel.

Oil trader Vitol won the tender to supply fuel oil.

BPC also has term contracts with 10 companies for refined oil product imports in the first half of 2017. (Reporting by Jessica Jaganathan; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)

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