State-owned retailer Pakistan State Oil is poised to buy denatured fuel ethanol for July to December 2012 at a fixed price marginally lower compared with the first half of 2012, a source close to the matter said Tuesday.
PSO is seeking 1.1 million liters of denatured fuel ethanol for delivery into Keamari terminal, Karachi, over July to December through a tender open to domestic suppliers that closed July 9, but offers are to remain valid until July 20.
The lowest price offer was at Pakistan Rupees 72 (76 cents)/liter, from a local distillery.
In comparison, PSO last bought a similar volume of denatured fuel ethanol for H1 2012 delivery at Pakistan Rupees 75/liter from a local distillery.
Other than conventional gasoline, state-owned retailer PSO also sells E10 gasoline with maximum 10% ethanol by volume, although the E10 grade is understood offered at only a few selected retail outlets, Platts reported earlier.
