Petrolimex, Vietnam's top fuel importer and distributor, is seeking up to 88,000 tonnes of gasoil for delivery in September, its first domestic market requirement in about three months, traders said on Thursday.
The state-controlled company is looking for 35,000 tonnes of 500 parts per million (ppm) sulphur gasoil for Sept. 21-27 loading, 11,000 tonnes of a similar grade for Sept. 13-19 loading and 26,000 to 35,000 tonnes of 0.25 percent sulphur gasoil for Sept. 26-30 loading.
The tender closes on Sept. 6 and is valid until Sept. 7.
Petrolimex last bought 61,000 tonnes of gasoil for June when the country's sole oil refinery was shut.
The company is likely covering domestic shortfalls due to its long hiatus from the spot market, a trader said. Demand for gasoil in the country is said to be stable.
Vietnam's 135,000 barrel-per-day Dung Quat plant restarted operations in mid-August after a nearly two-week shutdown when a secondary unit ran into technical problems.
While the plant is running at full capacity, it is only expected to resume gasoil deliveries on Sept. 10 and gasoline deliveries from Sept. 10 or 11, a Vietnam-based industry source said.
Oil importers are also stepping up imports after a July 20 ruling which gave oil product distributors the power to set their retail prices and the timing of changes to prices, the source added.
"In an environment where distributors are free to increase retail prices every 10 days, importers are happy to buy and sell," the source said.
Source: Reuters
