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Fri 8 Jul 2011 10:10

Indian firm sells 380-cst cargo


Fuel oil parcel is scheduled for loading in July.

PetroChina has purchased a 30,000-tonne parcel of fuel oil from India, industry sources report.

The Chinese fuel oil player bought the cargo of 380-centistoke (cst) fuel oil from Hindustan Petroleum Corp Ltd. (HPCL) at a discount of $15.00-$16.00 a tonne to Singapore spot quotes on a free-on-board (FOB) basis. The fuel oil lot is scheduled for loading on July 20-22 from HPCL's Vizag (or Visakhapatnam) terminal, located on the east coast.

HPCL is reported to have also sold a similar-sized cargo for the same loading dates to oil major Shell. The parcel is due to be lifted from the western port of Mumbai and was sold at a discount of $19.00-$20.00 a tonne to Singapore spot quotes, FOB.

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