ENOC to Supply Oil Products to Tanzania for First Time

Source: Reuters 1/14/2014, Location: Africa

Dubai's Emirates National Oil Company (ENOC) has won a tender to supply oil products to Tanzania for the first time in a sign that the company might be expanding its trading operations, industry sources said.

The government-owned company won the tender from Tanzania's Petroleum Importation Coordinator to supply nearly 170,000 tonnes of oil products for delivery in February at a weighted average premium of about $44 a tonne above Middle East quotes, the sources said.

The importers, who represent oil marketing companies in the east African nation, were seeking two combination cargoes for delivery into Kurasini Oil Jetty. One of them was for 5,300 tonnes of 500 ppm sulphur gasoil and 31,475 tonnes of gasoline for Feb. 6 to Feb. 8 delivery. The other cargo was for 16,700 tonnes of gasoil, 19,241 tonnes of jet fuel and 800 tonnes of kerosene for Feb. 20 to 22 delivery. The importers were also seeking 94,927 tonnes of gasoil for delivery into the country's single point mooring from Feb. 9 to Feb. 11.

While ENOC has supplied into Africa previously, this is the first time the company is supplying to Tanzania, one of the sources said. "Demand within Asia has slowed down a lot, so (ENOC) is probably looking at other markets to diversify portfolio," another source said. "Africa is one of the continents that a lot of middle distillates players are looking at as it's a growth market."

ENOC operates businesses in supply, trading and processing, terminals, marketing, retail and exploration and production, according to the company website.


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