State-owned retailer Pakistan State Oil is tipped to buy 210,000 mt of non-oxygenated, 87 RON gasoline for delivery over February-March at premiums higher than its last purchase, a source close to the matter said Wednesday.
PSO has sought two cargoes -- each 35,000 mt in size --- for February and four cargoes for March delivery into Keamari terminal, Karachi, through a tender that closed January 3, with the validity ending January 7.
The lowest offers into the tender came from Western traders Vitol and Trafigura, with Vitol offering one cargo each for February and March at premiums of $91/mt and $89/mt over Mean of Platts Arab Gulf naphtha assessments, CFR basis, respectively.
Trafigura's offers on the other four cargoes were at MOPAG naphtha assessments plus $77/mt for February and MOPAG naphtha assessments plus $75/mt for March.
PSO last bought 140,000 mt of 87 RON gasoline, in four equal cargoes, for January-February delivery from Trafigura and Gunvor at MOPAG naphtha assessments plus $72-74/mt, CFR Karachi basis.
