Pakistan State Oil (PSO) bought a total 66,000 tonnes of jet fuel for October to November delivery via tender at stable to lower premiums compared with September, a trade source said on Friday, as heavy supplies weighed on prices.
Pakistan’s monthly jet fuel purchase volume remained stable compared with September even though it was expected to fall as the joint venture Pak Arab Refinery Ltd (PARCO) is on track to restart this week.
PSO bought two 16,500-tonne lots for October delivery at premiums of $3.03 and $3.30 a tonne to Middle East quotes on a cost-and-freight (C&F) basis, he said.
It also bought two same-sized cargoes for November delivery at $3.30 a tonne to Middle East quotes C&F.
MENA Energy Dubai will supply all the cargoes, the source said.
In its last tender, PSO purchased at least 33,000 tonnes of jet fuel for September delivery at lower prices versus an earlier deal.
It bought the two 16,500-tonne cargoes at $3.30-$3.50 a tonne above Middle East spot quotes C&F.