Sri Lanka’s Ceypetco has issued a tender to buy 500 ppm sulphur gasoil contract cargoes for the first time in more than a year, a tender document on the company’s website showed on Monday.

The state-owned refiner is seeking to buy four cargo shipments of 280,000 barrels each for delivery to Colombo between July 1 and Dec. 1 this year.

The tender closes on May 23, with validity until July 22, the document showed.

Ceypetco previously sought gasoil contract cargoes in January 2022 for delivery between March and October 2023, Reuters records showed, but the sale details for that tender could not be confirmed.

The contract buying hiatus was attributed to a credit crunch in the country, with the refiner mostly seeking spot delivery parcels in the past few months to meet immediate demand requirements, two trading sources said.

Several earlier tenders were also cancelled or delayed, one of the two sources said.
Source: Reuters (Reporting by Trixie Yap Editing by David Goodman )