KARACHI, Nov 29: Pakistan State Oil (PSO) has awarded contracts for supply of 2.3 million tons of high sulphur fuel oil (HSFO) for 2002 to three bidders.

The contract has been split among three parties with a view to avoiding reliance on a single party and encourage more suppliers, PSO said in a statement.

Bakri International Energy Limited of Saudi Arabia got 50 per cent supply order while Hascombe Limited of London and Fal Oil Company of Sharjah secured 25 per cent each of the total shipment.

PSO had invited bids from pre-qualified suppliers of petroleum products on November 1 for the supply of 2.3 million tons of HSFO during the period of January to December 2002 on term contract basis.

The bids were opened in a transparent manner on November 16 in the presence of bidders and their representatives, says a PSO press release. Eight international suppliers and traders participated in the bids.

PSO, however, did not quote the price of three international bidders who got the contract and what prices were quoted by the eight bidders.

Besides, PSO would soon award contract for light sulphur fuel oil as the validity of the bids for the supply of the LSFO has been extended up to Dec 10.