Indian Oil seeks rare jet fuel cargo; first time in more than 3 years

Indian Oil Corp is seeking a rare aviation turbine fuel or jet fuel cargo, its first such requirement in more than three years, according to industry sources.

IOC’s rare spot requirement is due to a planned maintenance at its Koyali refinery in India’s western Gujarat state, the sources add.

The company is seeking about 5,000 tonnes of jet fuel for delivery into Vasco da Gama, on the west coast in Indian state of Goa, over March 25 to 28.

The tender closes on March 12 and is valid until March 13.

It last sought a jet fuel cargo in 2011.

IOC is planning to shut four crude distillation units with a total capacity of 220,000 barrels-per-day and several secondary units at the Koyali refinery from March to April.

The company is expected to secure its diesel needs from Indian private refiners such as Reliance Industries and Essar Oil with whom it has term purchase contracts.

Source: Reuters