JavaScript is off. Please enable to view full site.

Vietnam demand supports gasoil differentials

Saturday, February 11, 2017, 08:33 GMT+7

SINGAPORE - Spot demand from Vietnam lent support to gasoil differentials despite ample supply of the fuel, trade sources said.

Vietnam's top fuel importer Petrolimex bought three cargoes of 35,000 tonnes each of 500ppm sulphur gasoil for loading from Singapore, Malaysia or Thailand at a premium of about 55 to 60 cents a barrel to Singapore quotes, traders said.

Vietnam's PV Oil followed with a tender requirement for March and April seeking a total of 80,000 cubic metres of gasoil, they added.

Sri Lanka's Ceylon Petroleum Corp is seeking 200,000 barrels of jet fuel for delivery in February, traders said.

Refinery maintenance in Asia, which is expected to be heavier than in previous years, will likely further boost gasoil and jet fuel differentials, traders said.

Japanese oil refiner Cosmo Oil Co said on Friday it planned to shut two crude distillation units (CDU) this year for scheduled maintenance.

The two CDUs at Chiba and Sakai refineries are likely to be shut for about 1-1/2-months each, a company spokesman said.

Arbitrage economics to ship diesel to Europe also remain unviable with oil product inventory in Europe remaining high, traders said.

The region's stocks of crude oil and all oil products apart from fuel oil edged higher despite the lower run rates, reaching a total of 1.150 billion barrels in January, data from industry monitor Euroilstock showed.


- Pertamina is seeking 200,000 barrels of jet fuel for delivery into Jakarta over March 23 to 25. The tender closes on Feb. 14 and is valid until Feb. 17.

- Ceylon Petroleum Corp is seeking 200,000 barrels of jet fuel for delivery into Colombo over Feb. 21 to 22. The tender closes on Feb. 14 and is valid for up to 72 hours.

- PV Oil is seeking 80,000 cubic metres of 500ppm sulphur gasoil for delivery into Nha Be and Mien Dong over March to April. The tender closes on Feb. 10.



Read more




Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news