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Tunisia - Stir to buy up to 450,000t of high-sulphur fuel oil
Publish Date : 09-Dec-2009
Tunisian refining company Stir will buy up to 450,000t of high-sulphur fuel oil next year in equal monthly deliveries.
Stir will take delivery of a baseline volume of 225,000t of cracked high-sulphur fuel oil within a 110-310 viscosity range, with the option to take up to 450,000t, under a new annual tender arrangement. The product is to be supplied in 25,000-30,000t cargo lots and will be used almost exclusively for burning in the country\'s oil-fired power plants.
The tender closed last week, but Stir will take until 25 December to consider offers lodged by potential suppliers before making awards. Pricing will be linked to Platts 3.5pc fuel oil cif Mediterranean trading firm Galaxy was one of the main winners of the previous annual Stir tender for 2009 volumes into Tunisia.
Stir runs Tunisia\'s sole 36,000 b/d refinery at Bizerte. It will sell a 30,000t cargo of 0.5pc low-sulphur straight-run fuel oil in a spot tender for 25-27 January lifting. Bidders have to link their price proposals to Platts low-sulphur straight-run fuel oil fob northwest Europe assessments.
