Petrolimex awards contracts for Q4

Vietnam’s Petrolimex has awarded about 70-80% of its fourth-quarter import requirements for diesel fuel, gasoline and fuel oil, and is still negotiating for the rest, traders said. Overall, it paid less for gasoline and diesel fuel supplies versus the third quarter and much more for its fuel oil purchases, broadly reflecting the state of each market. The country’s top fuel importer was seeking up to 653,500 tons of the main oil products, including up to 6,500 tons of kerosene. The state-owned company paid a discount of US$0.40-US$0.70 a barrel to Singapore spot quotes, on a free-on-board (FOB) basis, for 92-octane parcels, and about minus US$0.20 a barrel to Singapore quotes, FOB, for 95-octane. (October 9, 2009)