Tanzania buys 250,000 ionnes of oil products for January

Fuel-dispencer08 December 2013, Singapore – TANZANIA’S oil importers bought about 250,000 tonnes of oil products for delivery in January from Gulf Africa Petroleum Corp (Gapco), industry sources said on Wednesday.

Gapco, which is registered in Mauritius and has operations in East Africa, is a subsidiary of Reliance Industries Ltd.

Tanzania’s importers bought the cargoes at a weighted average premium of $44.204 a barrel above Middle East quotes, one of the sources said.

The Petroleum Importation Coordinator, which represents oil marketing companies in the east African nation, bought 172,000 tonnes of 500 ppm sulphur gasoil, 61,700 tonnes of gasoline and 17,000 tonnes of jet fuel.

East Africa’s second-biggest economy, plagued by power cuts and other infrastructure challenges, is fast becoming a regional energy hub, following huge offshore natural gas discoveries.

– Tanzania Daily News

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