Singapore (Platts)--8Nov2012/437 am EST/937 GMT
State-owned Vietnam National Petroleum Group, better known as Petrolimex, has decided to skip purchasing spot gasoline imports for a second straight month in December, a source close to the matter said Thursday. This is largely due to expectations that domestic buying will continue to remain low into December amid ample spot availability from the country's sole 6.5 million mt/year (130,500 b/d) refinery at Dung Quat. The company skipped spot imports for November due to a combination of higher deliveries from both its annual term imports and supply from the Dung Quat refinery, as well as some spot purchases from the refinery.Article continues below...Commodity Pulse Video:Top 250 Energy Company Rankings analysis: oil reigns supreme; commodities diverge across regionsPlatts editors take an in-depth look at Platts Top 250 rankings for 2012 and explain how record average crude prices have seen the oil & gas sector extend its dominance of the world's top energy companies; the disparate fortunes of gas, coal and power utilities & producers across each region; & how Asian & Russian companies dominate where return on invested capital (ROIC) is concerned. Watch the video
State-owned Vietnam National Petroleum Group, better known as Petrolimex, has decided to skip purchasing spot gasoline imports for a second straight month in December, a source close to the matter said Thursday. This is largely due to expectations that domestic buying will continue to remain low into December amid ample spot availability from the country's sole 6.5 million mt/year (130,500 b/d) refinery at Dung Quat. The company skipped spot imports for November due to a combination of higher deliveries from both its annual term imports and supply from the Dung Quat refinery, as well as some spot purchases from the refinery.
Article continues below...
Platts editors take an in-depth look at Platts Top 250 rankings for 2012 and explain how record average crude prices have seen the oil & gas sector extend its dominance of the world's top energy companies; the disparate fortunes of gas, coal and power utilities & producers across each region; & how Asian & Russian companies dominate where return on invested capital (ROIC) is concerned.
Watch the video
Petrolimex's last spot gasoline imports were in October, when it bought a total 70,000 mt of 92 RON and 95 RON gasoline that loaded in October from Singapore, at premiums of around $1/barrel to Mean of Platts Singapore 92 RON and MOPS 95 RON gasoline assessments, FOB basis. --Irene Tang, irene_tang@platts.com --Edited by Wendy Wells, wendy_wells@platts.com
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