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UAE’s Emarat awards gasoline tender to BP, Vitol
The tender was awarded for around 80,000 tonnes a month for the April-December period.
February 18, 2011 9:43 by Reuters
United Arab Emirates’ fuel retailer Emarat has awarded a 700,000-750,000 tonne gasoline tender for the balance of 2011 to BP <BP.L> and Vitol, traders said on Thursday.
The tender was awarded for around 80,000 tonnes a month for the April-December period, traders said.
Three cargoes per month were negotiated for delivery between April and December, trade sources said.
Previously, Total was the supplier, they said.
Saudi Arabia was also reported to be buying gasoline, trade sources said.
“Saudis have bought one cargo this week or the last,” one gasoline trader said, adding that demand for the motor fuel from the world’s largest oil exporter was rising rapidly.
Kuwait bought two cargoes from Trafigura this week.
(Reporting by Jessica Donati and Emma Farge; editing by William Hardy)