Asia/Pacific News
Bangladesh Receives Offers on First Tender for Fuel Oil
Two sources from Bangladesh Petroleum Corp (BPC) say the company has received offers on its first tender to buy fuel oil at premiums lower than its term deals, with Vitol Group (Vitol) currently in the lead position to close the deal, according to Reuters.
As Ship & Bunker reported in July, BPC issued a tender to buy 160,000 tonnes of 180 cST HFO, as part of the country's efforts to buy at cheaper rates and reduce direct-term deals.
"Vitol will get the tender if all other papers submitted by them fulfil terms and condition set out by the tender," said a Reuters source.
The tender is noted to have been aimed at a delivery between August and December.
In February, Ship & Bunker reported that Bangladesh's State Minister for Energy Nasrul Hamid announced the government was considering a review of the country's oil prices.
