March 17, 2017 [OPIS] - Pakistan State Oil (PSO) issued a buy tender seeking 500-ppm sulfur gasoil for May-delivery into Karachi, which closes on April 6 with validity up to April 21, with trade sources saying that the firm is seeking four 55,000-mt cargoes.
PSO has been increasing its import volume amid a hike in its domestic demand.
“The country’s economy has picked up since July last year, as investment from China came in,” one analyst said.
“The lower refined product prices had also likely generated a higher domestic demand.”
Pakistan had imported around 2.48 million mt of gasoil over July 2016-February 2017, up by 43.2% on-year from 1.70 million mt, according to data from Oil Company Advisory Council (OCAC).
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