SINGAPORE: Asia's gasoil differentials were stable on Friday after rising in the previous session as Singapore's cash trade volumes remained brisk.
A total of 900,000 barrels of gasoil of different grades were traded on Friday, bringing the month's total volumes transacted to almost 16 million barrels.
This is one of the most actively traded months this year, with Winson Oil being a dominant buyer.
But supplies were still ample with China's exports in October at nearly 1.4 million tonnes, official data showed.
Although this was down from a record high of 1.6 million tonnes in September, the October volumes were more than 10 percent above the monthly average for the first nine months of this year and were more than double the monthly average for 2015.
TENDERS: Pakistan State Oil (PSO) was looking to buy a total of 120,000 tonnes of gasoil with a 0.5 percent sulphur content for second-half December delivery in a tender which closes on Dec. 2
It was also seeking the same amount for Jan. 15 and Feb. 15 2017 delivery through a tender closing on Dec. 26 but with a sulphur content of 0.05 percent as the country moves towards cleaner fuels next year.
OTHER NEWS: Airlines flying to and from Australia's Melbourne Airport on Friday were told they could only receive half of their normal jet fuel after a series of supply disruptions.
A spokesman for Exxon Mobil, the operator of the airport's joint user fuel facility, said it was working with customers and industry partners to manage the fuel supply issue.
Vietnam has decided to scrap a $538 million oil refinery project in the country's southern region after investors failed to start construction around eight years after they received the licence.
The Can Tho refinery's cancellation is the second in Vietnam this year, after authorities in the central region scrapped a $20 billion refinery and petrochemicals plant with Thailand's oil company PTT in July due to delays.
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