November 28, 2006	Tuesday	Ziqa'ad 6, 1427

SINGAPORE, Nov 27: Pakistan State Oil has awarded its regular import tender for up to 780,000 tons of high-sulphur fuel oil for December-February delivery at lower premiums, traders said on Monday.

The tender for 12 cargoes of 125-180-centistoke (cst) fuel oil, up from eight parcels in its last tender totalling 520,000 tons, were awarded to Middle East traders Bakri and FAL Oil.

The premiums for the different grades vary between $11.00 and $22.00 a ton to Middle East spot quotes for delivery to Port Qasim in Karachi, on a cost-and-freight (C&F) basis.

Eight of the cargoes, of 55,000-65,000 tons each for delivery Dec 6-Feb 7, are on a firm basis while the remaining four are on an optional basis.PSO last purchased up to eight similar October-December cargoes of 3.5pc sulphur from Middle East trader Bakri at premiums of $19-$24 a ton to Middle East spot quotes, on a C&F Karachi basis.—Reuters