PSO Buys 30,000T Q4 Jet Fuel From BB Energy

Thursday, September 11, 2008 at 4:10 pm

SINGAPORE:Pakistan State Oil (PSO) has bought by tender 30,000 tonnes of jet fuel for delivery in the next quarter, an industry source said on Thursday.

PSO bought the cargoes from BB Energy at a premium of $9.98 a barrel to Middle East jet fuel quotes on a cost-and-freight Karachi basis, higher than the premium of $8.95 fetched in a previous tender for mid-September delivery, he said.

“Supplies are very thin in the Middle East because the US Marine is buying up the cargoes,” said the source, who declined to be named.

The first 10,000-tonne cargo is for delivery into Karachi in mid-October, he added.

The other two similar-sized parcels will be for delivery in each of November and December.