[external] India\'s MRPL sells jet fuel, first time since Jan \'07

Tag : jet fuel

(Adds details, and premium)
NEW DELHI, Sept 8 (Reuters) - Indian state-run refiner MRPL(MRPL.BO: Quote , Profile , Research , Stock Buzz ) has agreed its first sale of jet fuel since January last year,and a company source said exports would continue as they offeredbetter margins than diesel.
"We go by market economics, so we have resumed exporting jet fuel... We will continue to export ATF," said an MRPL official, whocould not be named.
Earlier a trade source told Reuters MRPL had awarded a 36,000-tonnejet fuel cargo to ENOC Singapore Pte Ltd, to be loaded in the thirdweek of September at a premium of around $4.50 a tonne to Arab Gulfquotes.
MRPL last sold a jet fuel cargo, of a similar size, to tradinghouse Glencore in January 2007. It fetched a premium of $21.3 to$21.5 a tonne to Singapore quotes.
Asia's gas oil contango widened on Monday, as the market was miredin heavy supplies and a lack of imports into China.
By contrast, jet fuel stocks in the Amsterdam-Rotterdam-Antwerp hubwere lower, helping boost the jet-kerosene's cash differential.[ID:nSP65843]
Another trade source said there was a possibility MRPL may floatmonthly jet fuel cargoes or finalise a term contract.
"What we hear is that they are talking to ENOC for a term dealalso," the second source said. Continued...