SINGAPORE: The Egyptian General Petroleum Corp (EGPC) has issued tenders for a total of 282,000 tonnes of gasoline and gasoil for March delivery, traders said on Tuesday, at a time when the Asian gasoil margin was softer. EGPC was looking to buy up to 72,000 tonnes of gasoil in two cargoes for March 8-10 and March 14-16 delivery to Suez port.
It was seeking up to 70,000 tonnes of gasoil in two cargoes for March 13-15 and March 21-23 delivery to Ain Sukhna terminal. It was also looking for up to 35,000 tonnes of gasoil for March 1-3 delivery to Waddi Feiran terminal.
The Asian gasoil crack fell 24 cents to $15.78 a barrel, while middle distillates stocks held in Singapore tanks hit a 7-month high of 12.830 million barrels in the week to Feb. 16, official data showed. As for gasoline, EGPC wanted to buy a total of 105,000 tonnes, or three cargoes, for March 5-7, March 13-15 and March 23-25 delivery to Alexandria port.
Offers for the tenders will close on Feb. 19, with validity until Feb. 25. EGPC had in late January bought up to 483,000 tonnes of gasoil for February delivery to Alexandria, Suez port and Ain Sukhna terminal.
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