Yemen's Aden Refinery buys 600,000 T gasoil for July-Sept –trade

2013-07-04

Yemen's Aden Refinery Company has bought 600,000 tonnes of high-sulphur gasoil for delivery over July to September, with volumes about a third lower than its needs for March to June, industry sources said on Tuesday.

The refinery bought 10 cargoes of 60,000 tonnes each of 0.5 percent sulphur from Kuwait's Independent Petroleum Group, traders Trafigura, Vitol, Energen and United Arab Emirates-based Horizon Energy, the sources said.

The premiums were finalised at between $3.60 a barrel and $4.80 a barrel to Middle East 0.25 percent sulphur gasoil quotes, they added.

IPG and Energen were likely supplying the cargoes in July, Horizon and Vitol in August and Trafigura, Vitol and Horizon in September, one of the sources said.

The refinery last bought 960,000 tonnes of 0.5 percent sulphur gasoil for delivery March to June, from traders Vitol, Trafigura and Kuwait's Independent Petroleum Group at premiums of $4.50 a barrel above Middle East quotes, traders have said.

Attacks on Yemen's oil pipelines cut its oil exports to about 5.69 million barrels in the first quarter of 2012, down about 11 percent from 6.4 million in the same period of the previous year.

Its oil exports rebounded 14 percent to 6.48 million barrels in the first quarter of 2013.

Source from : Source: Reuters (Reporting by Jessica Jaganathan)

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