5143

RIL to sell gasoil, jet fuel at high premiums

The firm has finalized its 2013 term contracts, but details on exact volumes and buyers were not available
Comment E-mail Print Share
First Published: Wed, Jan 02 2013. 07 56 PM IST
A file photo of RIL’s chairman and managing director Mukesh Ambani. Photo: Abhijit Bhatlekar/Mint
A file photo of RIL’s chairman and managing director Mukesh Ambani. Photo: Abhijit Bhatlekar/Mint
Singapore: Reliance Industries Ltd (RIL) has finalized its 2013 term contracts to supply gasoil and jet fuel to several buyers and is negotiating with a few more, all at levels higher than those of most other refiners, industry sources said.
It has completed a 500 ppm (parts per million) sulphur gasoil contract with at least one buyer at premiums close to $2.70 a barrel to the new benchmark Middle East quotes and a 10 ppm sulphur diesel contract at premiums of about $4.30 to $4.50 a barrel, the sources said on Wednesday.
The gasoil cargoes will be priced off the 500 ppm sulphur gasoil quotes instead of the current 5,000 ppm, in line with a shift in benchmark by pricing agency Platts, which comes into effect in January.
For jet fuel, the Indian refiner has concluded its 2013 term contracts at premiums of about $2.40 to $2.50 a barrel, the sources said.
Details on exact volumes and buyers were not immediately available.
The refiner is likely to continue negotiations with several other companies, especially for the 500 ppm sulphur gasoil, traders said.
Comment E-mail Print Share
First Published: Wed, Jan 02 2013. 07 56 PM IST
More Topics: RIL | gasoil | jet fuel | refiner | energy |
blog comments powered by Disqus
  • Wed, Jul 30 2014. 05 04 PM
  • Wed, Jul 23 2014. 06 06 PM
ALSO READ close

Seven of top 10 firms add over Rs76,000 in market cap

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved