3:09 AM
Bangladesh Petroleum Corp (BPC) has finalised term contracts with 14 companies for refined oil product imports in the first half of 2016 at lower premiums than this year.
The average premium for gasoil for the January-June period will be $4.40 a barrel over Middle East quotes, down from $4.49 a barrel for the second half of 2015, two company sources with direct knowledge of the matter said on Thursday, according to a report published on Reuters.
State-owned BPC will buy 2.46 million tonnes (MT) of gasoil in the next year, the sources said.
The company will take 1 million tonnes of gasoil with 2,000 parts-per-million of sulphur from Kuwait Petroleum Corp (KPC). The remaining 1.46 million tonnes will be gasoil with 500 ppm of sulphur, in line with the global trend towards cleaner fuels.
In 2015, it imported 2.6 million tonnes of gasoil, or about 53,000 barrels per day.
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