Two foreign firms to clinch deal

Dhaka,  Wed,  23 August 2017
Published : 15 Jun 2017, 00:46:59
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1.06mt petroleum

Two foreign firms to clinch deal

FE Report


Unipec Singapore Pte and Vitol Asia are set to clinch contracts to supply around 1.06 million tonnes of refined petroleum products to Bangladesh at higher premiums during July-December 2017 period.

The state-run Bangladesh Petroleum Corporation (BPC) completed bid evaluation recently and decided to buy fuel at higher premiums as their bids were found best among 11 bidders, a senior BPC official said.

With this one Unipec won all the three tenders that BPC had floated to import refined petroleum products, mainly diesel and jet fuel, through open-tender system since February 2016.

For Vitol this is second consecutive win in the open tender to supply furnace oil to BPC, he added.

"We sent our bid-evaluation report to the cabinet committee on public purchase to approve awarding deals to the suppliers," said the official.

Unipec Singapore submitted the lowest offer to supply a total of 680,000-860,000 tonnes of 0.05 percent-sulfur gasoil (diesel) and 100,000 tonnes of jet A-1 fuel under the first two groups.

The lowest offer in the third group for 80,000-100,000 tonnes of furnace oil came from Vitol Asia, he said.

Under group A, Unipec offered gasoil at a premium of $2.27 per barrel to the Mean of Platts Arab Gulf (MOPAG) gasoil assessments on a cost-and- freight (CFR) basis, and jet A-1 fuel at a premium of $2.87 per barrel to MOPAG jet fuel assessments, CFR, the official said.

For group B, Unipec's gasoil offer was at a premium of $2.47 per barrel to MOPAG 0.05 per cent sulfur gasoil assessments, CFR, and jet A-1 fuel at a premium of $2.87 per barrel to MOPAG jet fuel assessments, CFR.

For group C, Vitol's offer was at a premium of $29.73 per tonne to MOPAG furnace oil assessments on a CFR basis for up to 100,000 tonne of furnace oil to be delivered in 20,000-tonne cargoes.

The offers for H2 (July-December) 2017 were higher than BPC's current premiums awarded for delivery in H1 (January-June) 2017.

In its last tender for H1 2017, BPC awarded to Unipec 475,000 tonnes of 0.05 per cent sulfur gasoil at a premium of $2.08 per barrel to MOPAG 0.05 per cent sulfur gasoil assessments on a CFR basis, and 490,000 tonnes of 0.05 per cent sulfur gasoil at a premium of $2.16 per barrel to MOPAG 0.05 per cent sulfur gasoil assessments on a CFR basis.

 Unipec was also awarded deal for 90,000 tonnes of jet A-1 fuel at a premium of $2.76 per barrel to MOPAG jet fuel assessments, CFR.

Vitol had won the fuel-oil portion for the supply of 120,000 tonnes of furnace oil at a premium of $15.80 per tonne to MOPAG furnace oil assessments on a CFR basis.

The tender closed on May 16, and offers are to remain valid until July 29.

     Azizjst@yahoo.com

 

 
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