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Tue 20 May 2008, 12:35 GMT

Buyers bid for 90,000mt 380cst cargo


Indian refining company assesses bids for fuel oil cargo.

Hindustan Petroleum Corporation Ltd.(HPCL), India's second largest integrated refining and marketing oil company, is reported to have issued a tender for the sale of 90,000 metric tonnes of heavy fuel oil, according to Reuters.

The company is understood to be assessing a number of bids for the cargo of 4.0 percent sulphur and 0.998 density 380-centistoke fuel oil for loading between the months of June and August 2008.

The cargo would be lifted from the Vizag terminal on the East Coast of India, on a free-on-board basis.

HPCL currently operates two refineries in Mumbai and Vishakapatnam, which produce a variety of petroleum fuels & specialties. The company also owns and operates the largest lube refinery in India, which accounts for over 40 percent of the country's total lube base oil production.

HPCL is the nation's second largest supplier of marine fuels after Indian Oil Corporation. It is also very active in the marine lubricants market, supplying to customers at all the major Indian ports.

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