CPC renews contracts with Chinese and Indian owned firms
Monday, 13 October 2014 00:17
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Ceylon Petroleum Corporation (Ceypetco) has renewed term contracts to buy gasoil and gasoline from traders Unipec and Swiss Singapore for 15 months from October this year, sources close to the matter said on Thursday.
Unipec, the marketing arm of Chinese oil giant Sinopec, and Swiss Singapore, part of the Indian multinational conglomerate Aditya Birla Group, will deliver a total of 7.44 million barrels of gasoil and gasoline, the sources said.
Unipec and Swiss Singapore will each deliver 12 medium-range sized vessels of 0.25% sulphur gasoil and 92-octane gasoline over the October 2014-December 2015 period. The term contracts were finalised at a premium of $2 a barrel above Singapore quotes for gasoil and $2.66 a barrel for gasoline, the sources said.
