BackHPCL seeks 130,000 tonne for Feb-March
HPCL seeks 130,000 tonne for Feb-March
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Singapore: Hindustan Petroleum Corporation Ltd is seeking by tender three cargoes totalling 130,000 tonnes of low-sulphur gas oil for February-March delivery, matching the volume bought for January-February, traders said on Monday.
The state-run refiner requested a 65,000-tonne cargo of 0.045% sulphur for delivery on 22-27 February, a 35,000-tonne parcel of a similar grade and the smallest 30,000-tonne lot of 0.03% for delivery on 10-15 March.
All of them were slated for delivery into Mundra in northwest India. The tender closes on Wednesday. HPCL last bought by tender 130,000 tonnes of gas oil for January and February, but price details were not available.
“Indian demand is still strong, continuing from last year," said a Western trader, who received the tender document.
Traders said India’s growing economy is supporting the country’s demand for diesel, used in industries, farming and transportation sectors.
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