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National electricity firm Korea Western Power Co. Ltd. (KOWEPO), has purchased 90,000 tonnes of fuel oil via two tenders that closed on Friday, a company source informed Reuters.

KOWEPO is said to have bought a 45,000-tonne low-sulphur fuel oil cargo from Hanwha Corp that is scheduled for delivery on March 20-24 at the port of Pyeongtaek.

The second parcel, 45,000 tonnes of high-sulphur fuel oil, was purchased from Hyundai Corp and is due to arrive at Pyeongtaek between March 27 and March 31, Reuters said.

The agreed maximum sulphur content of the low-sulphur cargo is reported to be 0.3 percent, whilst the Hyundai Corp cargo deal has a maximum sulphur content of 2.59 percent.

Details of the price paid for each cargo were not disclosed, but the Korean utility has previously closed deals for identical quantities of fuel oil on a cost and freight (CFR) basis.

Korea Western Power Co., Ltd. is a subsidiary of Korea Electric Power Corporation (KEPCO), South Korea's largest energy utility, which provides 93 percent of the country's energy.