Fuel oil tender delayed
The Ceylon Petroleum Corp (Ceypetco) has delayed the award of a
12-month term tender to buy 360,000 tonnes of utility-grade fuel oil to
conduct a further price review, a company source said on Tuesday.
The state-run refiner will extend the validity date for this tender
by two weeks to April 29, as it seeks more time to examine bidders'
prices and review the quality of fuel oil required by the power sector,
"We have already notified bidders that we need another two weeks to
decide," he added. Traders said the tender could be cancelled and
re-offered to the market at a later date.
Ceypetco issued the tender last month on behalf of the Ceylon
Electricity Board (CEB), which was seeking supply for a new power plant
The tender closed on April 1 and was originally expected to be
awarded to Brazil's Petrobras, which offered to sell the low-sulphur
fuel oil at a premium of $42.27 a tonne to Singapore spot 180-centistoke