YPF Tenders to Buy Fuel Oil for June

Posted by Michelle Howard
Thursday, April 17, 2014

State-run oil company YPF launched its second fuel oil tender in April, this time to buy two 50,000 metric ton cargoes (some 375,000 barrels each) to be received in June and supplied to domestic thermoelectrical companies, according to a document seen by Reuters on Thursday.

The fuel will be delivered to Cammesa, Argentina's electricity market administrator, while the 90,000 barrel per day (bpd) Campana refinery undergoes a maintenance to its key operational plants, including crude distillation units, a delayed coker, a catalytic cracker and a reformer.

YPF bought a previous fuel oil cargo earlier this month that will be received from May 26 to June 1.

The first fuel oil cargo requested this time, with maximum 0.95 percent sulfur, must be delivered June 2-8 at Buenos Aires, Bahia Blanca or Campana ports in Argentina, and the second one should be unloaded on June 9-15.

The company will receive offers until April 23 and they have to be indexed to prices at New York Harbor.

Even though it is a large crude producer, Argentina imports a big portion of the liquid fuel it needs for its power industry.

(Reporting by Marianna Parraga; Editing by Eileen O'Grady)

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