India BPCL seeks more gasoline; adding to strong market

India BPCL seeks more gasoline; adding to strong market

India’s Bharat Petroleum Corp Ltd is looking to buy more gasoline for May delivery and this is coming at a time when Indonesian demand is stronger due to the Muslim fasting month, traders said on Friday.

* BPCL is seeking 35,000 tonnes of gasoline for May 25-30 delivery to Kochi in addition to an earlier tender seeking 15,000 tonnes of petrol for May 24-26 delivery to Haldia

* It is unclear why BPCL needs to import as it is not a regular importer of gasoline

* The gasoline BPCL is seeking should not have more than 0.004 percent sulphur content, its tenders stated

* Asia’s gasoline margin, the difference between prices of 92-octane grade in Singapore and Brent crude, hit a 3-1/12- month high of $9.86 a barrel on Thursday after reaching a three-month low of $5.69 a barrel in late April (Reporting by Seng Li Peng; Editing by Gopakumar Warrier) Read More

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