Algeria Buys 11 Cargoes of Gasoil in April-March

Algerian state oil company Sonatrach has awarded a tender to buy 11 cargoes of gasoil for delivery between late March and April, traders said on Monday.

The cargoes were awarded at a premium of around $17.00 to$17.50 a tonne over mean Mediterranean prices, one of the trading sources said. The companies that were awarded cargoes included Glencore, China Oil Hong Kong, Gunvor and Litasco, according to several gasoil traders active in the region. Algeria has planned for an increase in gasoil imports this year because of scheduled maintenance and improvement works at its refineries. Algeria’s 335,000 barrel per day Skikda refinery will partially shut down in early May for maintenance, which is expected to last until late 2012. The plant was forced to shut a unit earlier than planned this month, because of a fire, potentially contributing to Algeria’s need for additional fuel imports.