India's BPCL cancels 1st offers of Euro III diesel cargoes

SINGAPORE: India's Bharat Petroleum Corp Ltd (BPCL) has cancelled offers to sell its Euro III diesel cargoes for the first time in the export markets, traders familiar with the matter said on Thursday.

The reason behind the cancellation was unclear but there was talk that demand for diesel in general was poor in Asia.

Last week, BPCL had offered three 350 ppm diesel grade cargoes totalling 105,000 tonnes for October loading from Mumbai and Kochi. Sources said it was not immediately clear if BPCL will consider re-offering the cargoes.

But it was not uncommon for BPCL to cancel naphtha offers and later re-offer those cargoes.