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relianceqwSINGAPORE: India's Reliance Industries has finalised its 2013 term contracts to supply gasoil and jet fuel to several buyers and is negotiating with a few more, all at levels higher than those of most other refiners, industry sources said.

 

It has completed a 500 ppm sulphur gasoil contact with at least one buyer at premiums close to $2.70 a barrel to the new benchmark Middle East quotes and a 10 ppm sulphur diesel contract at premiums of about $4.30 to $4.50 a barrel, the sources said on Wednesday.

 

The gasoil cargoes will be priced off the 500 ppm sulphur gasoil quotes instead of the current 5,000 ppm, in line with a shift in benchmark by pricing agency Platts, which comes into effect in January.

 

For jet fuel, the Indian refiner has concluded its 2013 term contracts at premiums of about $2.40 to $2.50 a barrel, the sources said.

 

Center>Copyright Reuters, 2013


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln