SINGAPORE, July 16 (Reuters): India's Bharat Petroleum Corp Ltd has bought gasoline for Kandla in a rare move to meet demand and plug a supply gap after cancelling an earlier purchase tender, industry sources said on Tuesday.
BPCL bought 20,000 tonnes of 91.2-octane grade gasoline at a premium of about $9 a barrel to Singapore quotes on a cost-and-freight (C&F) basis.
The fuel is of Euro IV-compliant grade and scheduled for July 18-22 arrival at Kandla port located in Gujarat state of western India.
BPCL had previously canceled a tender to buy 35,000 tonnes of gasoline for June 20-24 arrival at Mumbai but the reasons were unclear.
India is undergoing heavy refinery maintenance this year as the country prepares for cleaner fuels from April 2020.
India's BPCL buys gasoline for Kandla in rare move
FE Team | Published: July 17, 2019 00:07:57
India's BPCL buys gasoline for Kandla in rare move
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