Yemen's Aden Refinery seeks 600,000 T gasoil for July-Sept

SINGAPORE, June 25 Tue Jun 25, 2013 9:58am BST

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SINGAPORE, June 25 (Reuters) - Yemen's Aden Refinery is seeking 600,000 tonnes of high sulphur gasoil for delivery over July to September in a new short-term contract that closes later this week, industry sources said on Tuesday.

The volumes are 37 percent lower than its term requirement for March to June, one of the sources said.

The drop may signal that Yemen is able to meet more of its own refined oil needs this year compared with 2012. Yemen's oil and gas pipelines have been repeatedly sabotaged by insurgents or angry tribesmen since anti-government protests in early 2011, causing local fuel shortages and slashing export earnings.

In the July-September contract, Aden Refinery is seeking 10 cargoes of high sulphur gasoil of 60,000 tonnes each, with three deliveries in July, three in August and four in September.

The tender closes on June 28 and is valid until July 1.

The refinery bought 960,000 tonnes of 0.5 percent sulphur gasoil for delivery March to June, from traders Vitol, Trafigura and Kuwait's Independent Petroleum Group at premiums of $4.50 a barrel above Middle East quotes, traders have said.

Attacks on Yemen's oil pipelines cut its oil exports to about 5.69 million barrels in the first quarter of 2012, down from 6.4 million the same period of the previous year.

Its oil exports rebounded 14 percent to 6.48 million barrels in the first quarter of 2013. (Reporting by Jessica Jaganathan; Editing by Tom Hogue)

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