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Thu 19 Jun 2008, 10:07 GMT

Indian firm offers 30,000mt of 380cst


Refining company invites offers for fuel oil cargo for loading in mid-July.

Hindustan Petroleum Corporation (HPCL) has opened a tender for the sale of 30,000 metric tonnes of heavy fuel oil for loading in July, the Economic Times reports.

The 30,000 tonne cargo of 4 percent sulphur and 0.998 density 380-centostoke (cst) fuel oil is scheduled for loading between July 17th and 19th.

The cargo will be lifted on a free on board (FOB) basis from HPCL's Vizag (or Visakhapatnam) terminal in the Indian state of Andhra Pradesh, located on the east coast of India. The tender was due to close on June 18th.

Last month HPCL was reported to have sold 90,000 metric tonnes of 4 percent sulphur and 0.998 density 380-centistoke (cst) fuel oil for loading between the months of June and August. The company was understood to have received a number of offers from interested buyers. Details regarding the winning bidder and the deal price were not revealed when the sale was announced.

HPCL is India's second largest integrated refining and marketing oil company. It operates two refineries in Mumbai and Vishakapatnam, which produce a variety of petroleum fuels & specialties. The company also owns and operates the largest lube refinery in India, which accounts for over 40 percent of the country's total lube base oil production.

HPCL is very active in the marine lubricants market and is the second largest supplier of bunker fuel in the country after Indian Oil Corporation (IOC).

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