MRPL Eyes Jet Fuel Term Supply Deals

26 Jul 2024 , 01:21 PM

Mangalore Refinery and Petrochemicals Ltd (MRPL) has expressed an interest in selling approximately 240,000 metric tonnes (1.89 million barrels) of jet fuel term supply beginning in September, according to Reuters.

According to the report, the state-owned refiner plans to sell at least one 40,000-60,000 tonne cargo every month from September to February, with the buyer required to dump the cargo between the first and 28th of each month.

Interested purchasers would have to submit proposals by July 31.

This could be a simply exploratory action because it is not an official sale tender, has no validity date, and buyer obligations are limited, according to two sources.

Furthermore, the refiner rarely provides term supply, cited the report quoting the third source.

MRPL can generally sell about two cargoes of 60,000 tonnes of jet fuel per month on a spot basis, but has not offered any term cargoes in the last two years, according to Reuters tenders records.

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