Fuel oil: PSO plans to import 1m tons from Kuwait
Pakistan imports about 80 per cent of its oil.
ISLAMABAD:
Pakistan State Oil (PSO) plans to buy one million tons of high-sulphur fuel oil from Kuwait Petroleum Corp (KPC) for delivery this year, a PSO spokesperson said on Thursday.
“PSO is in the process of concluding a deal for the purchase of a part, 750,000 tons, of the total quantity on 30 days of credit,” the spokesperson said.
Pakistan imports about 80 per cent of its oil. It spent $5.46 billion on the import of six million tons of petroleum products and 3.7 million tons of crude oil in the first six months of the 2010-11 (July-June) financial year.
PSO has bought up to 1.08 million tons of utility fuel oil, for January to March delivery, traders said this week.
Published in The Express Tribune, January 21st, 2011.
Pakistan State Oil (PSO) plans to buy one million tons of high-sulphur fuel oil from Kuwait Petroleum Corp (KPC) for delivery this year, a PSO spokesperson said on Thursday.
“PSO is in the process of concluding a deal for the purchase of a part, 750,000 tons, of the total quantity on 30 days of credit,” the spokesperson said.
Pakistan imports about 80 per cent of its oil. It spent $5.46 billion on the import of six million tons of petroleum products and 3.7 million tons of crude oil in the first six months of the 2010-11 (July-June) financial year.
PSO has bought up to 1.08 million tons of utility fuel oil, for January to March delivery, traders said this week.
Published in The Express Tribune, January 21st, 2011.