SINGAPORE: Kenya has bought nearly 400,000 tonnes of oil products for February and March, slightly more than previous volumes, as demand for fuel grows in the region, industry sources said.
Kenya's Ministry of Energy bought 100,658 tonnes of gasoline, 108,846 tonnes jet fuel and 188,627 tonnes of gasoil from Addax Kenya, Galana Oil Kenya, Gulf Energy and Gulf Africa Petroleum Corp (Gapco), they said.
It bought two gasoline cargoes of 50,329 tonnes each from Galana Oil for delivery over Feb. 22-24 and March 10-12 at premiums of $37.37 and $38.16 a tonne over Mediterranean quotes respectively.
It also bought two jet fuel cargoes of 48,846 tonnes and 60,000 tonnes for delivery over Feb. 20-22 and March 6-8 from Addax Kenya and Galana Oil at premiums of $21.93 and $18.36 a tonne over Middle East quotes respectively.
For the 500 ppm sulphur gasoil, Kenya bought three cargoes in total. Two were about 80,000 tonnes each for delivery into Kipevu Oil Terminal over Feb. 25-27 and March 19-21 from Gulf Energy and Gapco at premiums of $27.54 and $27.60 a tonne over Middle East quotes respectively.
A third gasoil cargo of 27,969 tonnes for delivery into Shimanzi Oil Terminal in Feb. 18 was sold by Gulf Energy at a premium of $43.98 a tonne over Middle East quotes.
Demand for fuel has been growing from East Africa due to a shortfall in refining capacity and higher growth rates, prompting Kenya to seek fuel from outside the continent.
Kenya last bought 485,818 tonnes of oil products in total in the spot market for delivery in December to February.
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