Vietnam spot demand to boost gasoil prices
Tuesday, April 25,2017AsemconnectVietnam - Spot demand from Vietnam amid tighter availability of gasoil is expected to boost prices and margins for the fuel, traders said on Monday.
Vietnam's top fuel importers are seeking 85,000 tonnes of diesel ahead of a planned shutdown of the country's sole 130,000 barrels-per-day refinery at Dung Quat in June that is expected to last 52 days.
Petrolimex is seeking 35,000 tonnes of 500ppm sulphur gasoil for May 18 to 22 loading in a tender that closes on April 25 and is valid until April 26.
Saigon Petro is seeking five cargoes of 10,000 tonnes each of 500ppm sulphur gasoil for delivery into Catlai over June 1 to 5, June 8 to 12, June 21 to 25, July 1 to 5 and July 10 to 14, they said.
Sales of diesel have been stronger than usual in Vietnam recently, a fuel distributor in Vietnam said, declining to be named as he was not authorised to speak to the media.
Inventory of diesel from Dung Quat refinery is also short as the refinery has been maximising gasoline production over diesel, he added.
Source: Reuters.com
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