Indian Oil extends tender offer for 10,000t base oils to 1 Feb

27 January 2012 08:09  [Source: ICIS news]

SINGAPORE (ICIS)--Indian Oil Corp (IOC) has pushed back the closing date for its tender offer of two base oil cargoes, totalling up to 10,000 tonnes, by more than a week to 1 February, traders said on Friday.

The tender was supposed to close on 23 January, but participants were not able to submit bids because of the Lunar New Year holiday in Asia this week, they said.

The extended submission date will delay the delivery of the first cargo, comprising 2,000-2,500 tonnes of SN500, 1,500 tonnes of 150N and 1,000 tonnes of 500N base oils to 7-10 March from 22-25 February, previously.

The second cargo, which consists of 2,000-2,500 tonnes of SN150, 1,500 tonnes of 150N and 1,000 tonnes of 500N, is due for delivery on 14-17 March, traders said.

For more information on base oils, visit ICIS chemical intelligence

By: Salinla Tulyasatien
+65 6780 4359

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