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Indian Oil offers rare light diesel oil cargo - sources

Source : REUTERS
Last Updated: Wed, Nov 06, 2013 11:49 hrs

SINGAPORE (Reuters) - Indian Oil Corp has offered a rare light diesel oil cargo in the spot market, industry sources said on Wednesday.

The refiner is offering 6,000 to 8,000 tonnes of the oil product for loading from Budge Budge terminal from November 26 to 28. The tender closes on November 8 and is valid until November 12.

The refinery could be offering light diesel oil due to a drop in domestic consumption, an India-based industry source said. IOC last sold light diesel oil in late October and has only sold two cargoes before that, in February and April, in 2012, the source added.

A second source said IOC is probably offering the product due to maintenance at secondary units. Light diesel oil can be used as feedstock in these units, the source added.

Indian Oil had planned to shut some secondary units including a fluid catalytic cracking unit (FCCU) and a hydrocracker unit in November for maintenance.

IOC officials could not be immediately reached for a comment. (Reporting by Jessica Jaganathan; editing by David Evans)



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