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17/06/2015 16:17 AST
Kuwait-based trading firm Independent Petroleum Group bought a jet fuel cargo for loading in July from state-owned Kuwait Petroleum Corp in a rare move, traders said.
IPG bought 60,000 tonnes of the aviation fuel from KPC for loading over July 17 to 20 at a premium of between $1.70 and $1.75 a barrel over Middle East quotes, the traders said.
This is the first time in several years that IPG has bought jet fuel from KPC, they added. IPG usually trades in gasoil and only occasionally trades in jet fuel which is then used to co-load with gasoil cargoes, one of them said.
It is not clear what IPG was planning to do with this cargo. IPG officials declined to comment on the matter.
IPG has business in the Red Sea, Arabian Gulf, east Mediterranean and East Africa, and plans to expand in the Mediterranean, Indian subcontinent and the Far East, according to the company website.
In the same tender, KPC sold another 60,000-tonne jet fuel cargo for the same loading dates to Shell at a premium of between $1.80 and $1.85 a barrel to Middle East quotes, industry sources said.
Reuters
03/08/2010
Independent Petroleum Group Company (IPG) reported that the board of directors met on Aug 2, 2010 and adopted the financial statements for the half year ending June 30, 2010. For the three months end
Arab Times
| Ticker | Price | Volume |
|---|---|---|
| RIBL | 29.65 | 2,130,721 |
| ALDREES | 141.40 | 522,113 |
| MAADANIYAH | 18.00 | 151,342 |
| FIPCO | 45.05 | 42,576 |
| IQCD | 13.65 | 1,642,147 |
| NEFTALSHARQ | 4.20 | 52,662 |
| MIDAN | 757.00 | 0 |
| Ticker | Price | Change |
|---|---|---|
| SAUDIARAMCO | 27.70 | 0.00 (0.00 |
| ABAR | 158.00 | -1.00 (-0.63 |
| ADNOCGAS | 3.48 | 0.12 (3.57 |
| ADNOCDRILL | 5.51 | 0.03 (0.54 |
| BAHRI | 29.55 | -0.15 (-0.51 |
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
Financial Information Co.
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