April 04, 2007	Wednesday	Rabi-ul-Awwal 15, 1428

NEW YORK, April 3: Venezuela's state-owned oil company, PDVSA, is expected to cancel its fuel oil sell tender and re-tender the 2 million barrel cargo with a different destination restriction, traders said on Tuesday.“They are very strict about their requirements,” a trader said.

“The only market for the high-viscosity cargo is Singapore. It won't go to China or Japan.” The tender for the April 18-25 cargo closed on Monday. The 380 centistoke, mixed cracked cargo will be lifted from Bonaires or the Bahamas, with delivery set for China or Japan.—Reuters