Bahrain Petroleum Company - Bapco announced it has set the 500ppm sulphur gasoil term prices for 2015 at a premium of $1.45 a barrel above Middle East quotes, down from this year's $2.50 a barrel level.
Also it has set its jet premium for 2015 at $1.85 a barrel to Middle East quotes, down from this year's $2.15 a barrel premium.
Industry sources stated that Bapco has sealed its 2015 gasoil and jet fuel term deals at lower premiums than the current year.
Term premiums were set lower as buyers expected reduced import demand from Saudi Arabia and more supply from the Middle East due to new refining capacity, noted the sources.
Established in 1929 and based in Awali, Bahrain, Bapco operates in the oil industry. It engages in the exploration and prospecting, drilling, production, refining, storage, and distribution of petroleum products and natural gas, as well as sales and exports of crude oil and refined products.
Also it has set its jet premium for 2015 at $1.85 a barrel to Middle East quotes, down from this year's $2.15 a barrel premium.
Industry sources stated that Bapco has sealed its 2015 gasoil and jet fuel term deals at lower premiums than the current year.
Term premiums were set lower as buyers expected reduced import demand from Saudi Arabia and more supply from the Middle East due to new refining capacity, noted the sources.
Established in 1929 and based in Awali, Bahrain, Bapco operates in the oil industry. It engages in the exploration and prospecting, drilling, production, refining, storage, and distribution of petroleum products and natural gas, as well as sales and exports of crude oil and refined products.
Source:
Mubasher
