Standard Post with Image

Hindustan Petroleum Cancels Gasoil Tender on Low Bids: Source

  • Hindustan Petroleum Corp has cancelled a tender to sell up to 30,000 tonnes of high sulphur gasoil because there were very few bids and prices were too low, traders said on Wednesday.The state-run refiner had offered 25,000 to 30,000 tonnes of 1 per cent sulphur gasoil for loading from April 1-3, in a tender that closed on Mar. 25 and was valid until Mar. 26.The company does not plan to re-issue the tender, a trader said.

  • Refiners usually offer high sulphur gasoil when there are problems with desulphuriser units, but it is unclear if HPCL has any maintenance going on now, traders said.HPCL plans to shut a 60,000 barrels per day (bpd) crude unit and fluid catalytic cracker at its Vizag refinery in southern India for maintenance in April-May.The planned maintenance shutdown will last about 45 days.

Source