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ADNOC Issues Tender to Buy Gasoil, Gasoline for Egypt

Source: Reuters 4/1/2015, Location: Africa

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Abu Dhabi National Oil Co issued a tender to buy up to nine cargoes, or 300,000 tonnes, of gasoil for delivery into Egypt in April, traders said.

The tender, which closes on Thursday, asks for up to six 33,000 tonne cargoes of 0.1 percent-sulphur gasoil for delivery to the port of Alexandria in April, and a further three 35,000 tonne cargoes for delivery to Suez.

The company also issued tenders to buy up to four cargoes of gasoline, two each for Alexandria and Suez, and up to eight cargoes of fuel oil to the ports for delivery to Egypt's state oil company, EGPC, in April.

EGPC itself issued a tender several weeks ago to buy gasoil for April delivery and traders said ADNOC would not necessarily purchase the full amount specified in the tender.

Late last year, the Egyptian government approved a deal under which EGPC would buy 65 percent of its oil product import needs from ADNOC for one year. The agreement covered gasoline, diesel, heavy fuel and liquefied petroleum gas.

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