Mozambique Imopetro receives 9 offers for H2 2018 oil products term tender

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Mozambique Imopetro receives 9 offers for H2 2018 oil products term tender

8:34 CAT | 24 May 2018

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Mozambique Imopetro has received up to nine offers in response to its buy tender for 685,500 mt of 50 ppm gasoil, 31,500 mt of jet fuel and 212,000 mt of 93 RON gasoline for delivery over July-December 2018, traders said Wednesday.

The offers ranged from as low as $30.70/mt to $65.70/mt to the weighted average premium of the Mean of Platts Arab Gulf assessments.

The lowest offers came from European trader Trafigura, followed by Sahara, Totsa and August Energy.

The next lowest offer was at the weighted average premium of $34.90/mt to the MOPAG assessments from Sahara followed by $36.89/mt from Totsa and $39.85/mt from August Energy.

Imopetro was last reported to have bought a total of 991,641 mt of gasoil, jet A-1 fuel and gasoline for delivery over the second half of 2017 from a European trading house.

The tender was awarded at a weighted average premium of $33.50/mt to MOPAG assessments on a CIF basis. That volume comprised 685,058 mt of 500 ppm sulfur gasoil, 74,332 mt of jet A-1 fuel, and 232,251 mt of 93 RON gasoline.

All cargoes are priced on a CIF basis to Maputo, Beira, Nacala and Pemba.

The current semi-term tender closed May 11, and remain valid for one day. According to a another trade source, the current term tender has not been awarded.

ALSO READ: Mozambique: Int’l tender for fuel imports launched

Source: Platts