Ceypetco buys Feb cargo at a premium

Saturday, 21 January 2012 00:37 - - {{hitsCtrl.values.hits}}

SINGAPORE (Reuters): Sri Lanka’s Ceylon Petroleum Co (Ceypetco) has bought a combination cargo of gasoil and gasoline for delivery in February from Vitol, industry sources said on Friday.

The state-owned company bought 190,000 barrels of 0.25 percent sulphur gasoil, 80,000 barrels of 90-octane gasoline and 40,000 barrels of 95-octane gasoline.

It paid premiums of $2.94, $1.71 and $2.46 a barrel to Singapore quotes for the 0.25 percent sulphur gasoil, 90-octane and 95-octane gasoline barrels respectively, one of the sources familiar with the market said.

The cargo is for delivery over Feb. 9-10 into Colombo.

The levels paid for the gasoil barrels are slightly stronger than previous tenders as there is limited availability of high sulphur gasoil in the region, a trader said.

Ceypetco last bought a combination cargo of 225,000 barrels of 0.25 percent sulphur gasoil and 85,000 barrels of 90-octane gasoline from Vitol at premiums of $2.37 a barrel and $1.93 a barrel to Singapore quotes, respectively. The cargo is for delivery into Colombo over Jan. 25-26.

Sri Lanka’s diesel imports for January are set to triple from previous months as domestic demand for power generation rises during dry weather in the country.