Saigon Petro buys 77KT distillates at higher prices
Vietnam's Saigon Petro Co Ltd has bought the full tender volume of 77,000 tonnes of distillates for February and March, and will seek more gasoline to meet strong demand, a market source said on Wednesday.
By Agencies |
SINGAPORE: Vietnam's Saigon Petro Co Ltd has bought the full tender volume of 77,000 tonnes of distillates for February and March, and will seek more gasoline to meet strong demand, a market source said on Wednesday.
The latest tender purchases, which were awarded to trading houses including Chinaoil and Unipec, nearly doubled from 40,000 tonnes bought in a past tender for February, he said.
The state fuel importer had to fork out higher prices for gasoline cargoes due to thin Asian supply, said the source familiar with the tender. "There are few offers because there is not much (gasoline) supply around. Consumption in Vietnam is rising rapidly and Saigon will try to buy more cargoes for March delivery in the spot market," he added.
The table below shows the tender results but the full list of the winners was not immediately available. Volumes are in thousands of tonnes.
The latest tender purchases, which were awarded to trading houses including Chinaoil and Unipec, nearly doubled from 40,000 tonnes bought in a past tender for February, he said.
The state fuel importer had to fork out higher prices for gasoline cargoes due to thin Asian supply, said the source familiar with the tender. "There are few offers because there is not much (gasoline) supply around. Consumption in Vietnam is rising rapidly and Saigon will try to buy more cargoes for March delivery in the spot market," he added.
The table below shows the tender results but the full list of the winners was not immediately available. Volumes are in thousands of tonnes.
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