Europe trader Staroil bags Morocco base oils

17 March 2008 17:23  [Source: ICIS news]

LONDON (ICIS news)--A base oil sell tender out of Morocco was awarded to European trading company Staroil, a source at the Samir refinery in Mohammedia said on Monday.

The Moroccan refiner tendered two options, one calling for the sale of 1,400 tonnes of SN150 and 2,400 tonnes of SN500, with the other calling for the same volumes to be sold in six bi-monthly cargoes.

“The spot tender went to Staroil,” a Samir source said.

“For the contract tender we didn’t receive any good offers, so maybe we will retender or discuss sales directly."

The souce added that financial terms were private and confidential.

European traders were keen to secure volume due to an extreme tightness in the market. There were virtually no export barrels available in Europe and demand was seen as robust.

By: Shelley Kerr
+44 20 8652 3214

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