Indian gasoil supply weighs

A logo of Indian Oil is picture outside a fuel station in New Delhi, India August 29, 2016. REUTERS/Adnan Abidi·Reuters· (Reuters)

SINGAPORE (Reuters) - High sulphur gasoil supply appeared from India, helping to offset spot demand from Indonesia for the fuel and keeping differentials for the fuel steady, traders said on Monday. Indonesia's Wilmar Trading required a spot cargo for April but Indian Oil Corp offered term cargoes of the fuel, they added. Pakistan State Oil bought just one of four gasoil cargoes it was seeking for delivery in April, industry sources said. It bought 55,000 tonnes of 500ppm sulphur gasoil for delivery in April from Swiss Singapore at a premium of $1.88 cents a barrel to the Middle East quotes, they said. Inventory of the fuel is adequate and the company did not need as much volumes as it initially thought, one of the industry sources said. PSO is yet to award a 10,000-tonne jet fuel cargo it was seeking for delivery in April but will likely buy the cargo from Renish Petroleum, the source added. Sri Lanka's Ceylon Petroleum Corp has cancelled a tender seeking 160,000 barrels of jet fuel and 150,000 barrels of gasoil for delivery over April 11 to 12. The reason was not immediately clear. Egyptian Petroleum Minister Tarek El Molla said on Sunday his country had received two cargoes of diesel fuel from Saudi Arabian state-owned oil company Aramco on Friday and Saturday. Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products a month for five years, but the cargoes stopped arriving in early October. Molla said he was revising the import schedule with distributors following Aramco's decision to resume shipments. EGPC has informed sellers that it will have to cancel at least 1 gasoil cargo a month, a source said, though this could not immediately be confirmed. TENDERS: - Wilmar Trading is seeking 40,000 tonnes of 0.25 percent sulphur gasoil for delivery into Dumai over April 13 to 17. The tender closes on March 21 and is valid until March 22. - Indian Oil Corp has offered 12 cargoes of 15,100 tonnes each of 0.2 percent sulphur gasoil for loading over April, 2017 to March, 2018. The tender closes on March 20 and is valid until March 21. CASH DEALS: One gasoil deal, no jet fuel trades. - Hin Leong sold 150,000 barrels of 10ppm sulphur diesel for April 11 to 15 loading to Vitol at a premium of 30 cents a barrel to the average of April 10 to 17 Singapore quotes. MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 60.87 -0.06 -0.10 60.93 GO 0.5 Diff -0.50 0.00 0.00 -0.50 Spot Gas Oil 0.25% 61.07 -0.06 -0.10 61.13 GO 0.25 Diff -0.30 0.00 0.00 -0.30 Spot Gas Oil 0.05% 61.52 -0.03 -0.05 61.55 GO 0.05 Diff 0.15 0.03 25.00 0.12 Spot Gas Oil 0.001% 61.72 -0.06 -0.10 61.78 GO 0.001 Diff 0.35 0.00 0.00 0.35 Spot Jet/Kero 60.45 0.03 0.05 60.42 Jet/Kero Diff -0.40 0.00 0.00 -0.40 For a list of derivatives prices, including margins, please double click the RICs below. Brent M1 Gasoil M1 Gasoil M1/M2 Gasoil M2 Regrade M1 Regrade M2 Jet M1 Jet M1/M2 Jet M2 Gasoil 500ppm-Dubai Cracks M1 Gasoil 500ppm-Dubai Cracks M2 Jet Cracks M1 Jet Cracks M2 East-West M1 East-West M2 LGO M1 LGO M1/M2 LGO M2 Crack LGO-Brent M1 Crack LGO-Brent M2 (Reporting by Jessica Jaganathan; Editing by Edmund Blair)

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