February 18, 2013 / 8:31 AM / 5 years ago

Sudanese Petroleum buys 520,000 T gasoil for Mar-July - sources

SINGAPORE, Feb 18 (Reuters) - Sudanese Petroleum Corp has bought 520,000 tonnes of gasoil for delivery over March to July from top oil trading house Vitol and Kuwait’s Independent Petroleum Group (IPG), industry sources said on Monday.

Sudan bought eight cargoes of 40,000 tonnes each from Vitol and five from IPG at premiums between $4.50 and $5.50 a barrel above Middle East quotes, on a cost-and-freight (CFR) basis, one of the sources said.

The premium range is up from the most recent gasoil deals done for shipment into Sudan. Sudanese Petroleum last bought two cargoes of 25,000 tonnes each from Trafigura at a premium of about $4.50 a barrel above Middle East quotes, also on a CFR basis, for delivery February to March.

Sudan’s latest purchases occur just when gasoil supply is expected to be tightening in Asia and the Middle East due to a heavy refinery maintenance schedule in the second quarter, traders said. (Reporting by Jessica Jaganathan; Editing by Tom Hogue)

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