Singapore/New Delhi: Bharat Petroleum Corp Ltd has issued an import tender to buy vacuum gasoil (VGO) for the first time, a company source said on Tuesday.
VGO is normally used as a feedstock in refineries to produce oil products such as gasoline and diesel.
“I guess with all the upgrading capacity going into India these days, it was a matter of time before they imported,” said a middle distillates trader.
“A lack of VGO tends to suggest either a new cracker or problem with the crude distillation unit if they haven’t bought before,” the trader said.
