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Tue 22 Jul 2008, 10:10 GMT

HPCL offers 380cst fuel oil cargo


30,000 tonne parcel of 380cst is scheduled for loading at the end of August.

India's Hindustan Petroleum Corp (HPCL) is offering a 30,000 tonne parcel of fuel oil for loading in August, Reuters reports.

The cargo of 4 percent sulphur and 0.998 density 380-centistoke (cst) fuel oil is scheduled for loading between August 23rd and 28th from HPCL's Vizag (or Visakhapatnam) terminal in the state of Andhra Pradesh, located on the east coast of India.

Last month the company sold a 30,000 tonne cargo of 380-cst, of 4.0 percent sulphur and 0.998 density, for loading between July 17th and 19th from the Vizag terminal. The fuel oil was reportedly sold to oil major BP following the issue of a tender by HPCL which closed on June 18th. It is understood to have been sold at a discount of US$25 on a free-on-board (FOB) basis, according to market sources.

In May, HPCL was also reported to have sold 90,000 metric tonnes of 4 percent sulphur and 0.998 density 380-centistoke (cst) fuel oil for loading between June and August, also from HPCL's Vizag terminal.

HPCL is India's second largest integrated refining and marketing oil company. It 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 very active in the marine lubricants market and is the second largest supplier of bunker fuel in the country after Indian Oil Corporation (IOC).

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