Indian oil refiner BPCL buys gasoline cargo for March in rare move


Indian oil refiner BPCL buys gasoline cargo for March in rare move

India’s Bharat Petroleum Corp Ltd has bought a gasoline cargo for first-half March arrival, two trade sources said on Monday. BPCL bought late last week 35,000 tonnes of 91.5-octane gasoline at a low single-digit premium to Singapore quotes on a cost-and-freight (C&F) basis, said the sources.

Both sources said strong demand and low gasoline prices amid a glut of the fuel likely prompted the refiner to import. BPCL does not typically comment on their tender purchases or sales.

Based on Reuters data, BPCL last imported a gasoline cargo for arrival in May last year at Kochi and Haldia. Read More

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