close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Kuwait sells deferred Pakistan diesel, premiums fall

Premiums for 0.2 percent and 0.5 percent sulphur gas oil have fallen below $1.50 a barrel to Middle East spot quotes this week.

0

August 20, 2010 2:37 by



Gas oil premiums in the Middle East have slumped over the past week, spurred partly by the sale of at least two spot parcels by Kuwait Petroleum Corp (KPC) after term buyer Pakistan deferred delivery of the cargoes due to the country’s devastating floods, traders said on Friday.

Premiums for 0.2 percent and 0.5 percent sulphur gas oil have fallen below $1.50 a barrel to Middle East spot quotes this week, compared with around $2.00-$2.50 a barrel last week, traders said.

Traders attributed the price slide to the sale of at least two 0.2 percent sulphur gas oil cargoes by KPC in the spot market after Pakistan State Oil (PSO) deferred deliveries of its August term parcels.

KPC sold a spot gas oil cargo for Aug. 23-24 loading to Glencore at a premium of $1.10 a barrel to Middle East spot quotes earlier this week, after selling a similar parcel to Trafigura at a premium of $2.05 a barrel last week, traders said.

“We heard KPC sold some cargoes because of the shipments that were force majeured by Pakistan, so high-sulphur gas oil premiums in the Mid-East Gulf have collapsed,” said one trader.

(Reporting by Jennifer Tan; Editing by Ramthan Hussain)



0

Tags: , ,

Leave a Comment