India's BPCL offers first gasoil cargo in over a year - sources

<html xmlns=""><head><title>CORRECTED-India's BPCL offers first gasoil cargo in over a year - sources</title></head><body>

Corrects to "amid a drop in export levies" from "despite a drop in domestic levies" in paragraph 5 in Oct. 2 story

SINGAPORE, Oct 2 (Reuters) -India's Bharat Petroleum Corp BPCL.NS has offered its first spot gasoil cargo, via a sales tender, in more than a year, three industry sources familiar with the matter said on Monday.

BPCL is seeking to sell at least 40,000 metric tons of 10ppm sulphur gasoil loading Oct. 26-27 from Kochi, according to a document seen by Reuters.

The tender closes on Oct. 3, with same-day validity.

The refiner had previously offered contractual 10ppm sulphur gasoil cargoes in April 2022, for delivery between July 2022 and January this year, Reuters records showed. MDIS/TENDA

This sudden offer could be due to strong profits overseas, amid a drop in export levies last Friday. Recent October-loading deals for India-origin gasoil are at premiums of around $6 a barrel to free-on-board Arab Gulf quotes - a rise from $4 for September loaders, one of the three sources said.

The state-owned refiner previously sought to buy gasoil cargoes for end-June to early July delivery to its Mumbai refinery, likely due to planned maintenance for some diesel-producing units in its Kochi refinery, a second source said.

BPCL did not immediately respond to a request for comment.

Reporting by Trixie Yap; Editing by Krishna Chandra Eluri


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