Friday, 27 March 2015 10:23
SINGAPORE: Kenya’s oil importers bought over 560,000 tonnes of oil products for delivery over April to May, slightly less that what they initially sought, industry sources said on Friday.
They bought 122,144 tonnes of jet fuel, 279,148 tonnes of gasoil and 164,500 tonnes of gasoline from Vivo Energy, Gapco, Mogas and Kencor, the sources said.
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They will pay premiums of about $ 25 a tonne above Middle East quotes for the jet fuel cargoes, premiums between $ 20 and $ 48 a tonne over Middle East quotes for the gasoil cargoes and premiums between $ 11 and $ 39 a tonne above Mediterranean quotes for the gasoline cargoes.
Kenya last bought over 550,000 tonnes of oil products for delivery over March to April.
Kenya’s economy is highly dependent on gasoil for transport, power production and farming, while many homes still use kerosene for lighting and cooking.
Copyright Reuters, 2015
