SINGAPORE, August 4(ABC): Dubai-based trader Coral Energy has become the top fuel oil supplier to Pakistan in recent months after winning a slew of import tenders floated by state-run Pakistan State Oil (PSO), data compiled showed.
Coral Energy won tenders to sell eight fuel oil cargoes to PSO during April-August, said a spokesman for Pakistan’s energy ministry, as the country’s demand for oil in power generation, grew after liquefied natural gas prices surged.
This is equivalent to more than 475,000 tonnes of fuel oil, calculations showed. Pakistan imported about 992,500 tons of fuel oil in the first half of this year, data from Pakistan’s Oil Companies Advisory Council showed.