SeaOil Philippines considers higher imports of gasoline and gasoil in 2013

Independent oil company SeaOil Philippines is assessing the possibility of raising imports of gasoline and gasoil next year, in accordance with projections of higher demand growth rate, industry sources said. SeaOil is tentatively looking at imports of 2.4 million-3 million barrels of gasoline and gasoil during the January-December 2013 period, with term imports at around 200,000 barrels per month.
Of its planned monthly term imports, 100,000 barrels are gasoline and the other 100,000 barrels are gasoil with a maximum sulfur content of 500 parts per million (ppm). This would cover around 80% of its projected domestic sales next year, with the rest to be secured from the spot market. However, the company has not yet entered into term negotiations with potential sellers, in part because it has to wait for the government’s final revision in gasoline specifications. There are proposed changes to the parameters for the new grades, which include color and setting Reid Vapor Pressure for 91 RON grade at 68 kPa. as well as cutting sulfur content to 50 ppm from the current 500 ppm, which would meet Euro 4 vehicle emission standards. Low-octane utility grade gasoline could replace the 81 RON once it is phased out. (October 4, 2012)