SINGAPORE: Tanzanian importers bought more than 250,000 tonnes of oil products for delivery in March from Addax Energy, industry sources said on Tuesday.
The Petroleum Importation Coordinator, which represents oil marketing companies in the east African nation, bought nearly 175,000 tonnes of 50 ppm sulphur diesel, 67,599 tonnes of 10 ppm sulphur gasoline, 14,807 tonnes of jet fuel and 1,400 tonnes of kerosene.
The cargoes are to be delivered into Kurasini Oil Jetty and into the country's single-point mooring system.
The importers will pay Addax a premium of $33.60 a tonne over Middle East quotes for the gasoil cargoes, a premium of $53.40 a tonne for the jet fuel and kerosene cargoes and $53.40 a tonne premium for the gasoline cargoes.
Tanzania last bought 254,680 tonnes of oil products for delivery in February from Geneva-based trader Augusta Energy at a weighted average premium of $47.195 a tonne.
The country switched the sulphur content of its diesel cargoes to 50 ppm from 500 ppm from January this year, as it moved to cleaner fuel standards.
East Africa's second-biggest economy, plagued by power cuts and other infrastructure challenges, is fast becoming a regional energy hub following huge offshore natural gas discoveries. It imports more diesel and gasoline than needed for its domestic market to export to landlocked neighbours.
Comments
Comments are closed for this article.