Monday, March 22, 2010

Galana Petroleum wins Maldive jet fuel deal

Middle East based Galana Petroleum Limited has won a tender to supply a total of 1.02 million barrels of jet fuel to the Maldives for delivery between April 2010 through March 2011, industry sources said on Sunday.

Galana concluded the deal with the archipelago located in the Indian Ocean, at premium of $3.59 a barrel to the benchmark Middle East kerosene price, traders said.

The first delivery is scheduled for April, sources familiar with deal said.

"It is variable but the average size of each parcel is about 6,000 tonnes," a source said.

Galana edged out the Emirates National Oil Company (ENOC) and European trader Vitol, for the supply deal with the Maldives, traders said.


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