Reliance finalises 2015 diesel and jet fuel term contracts

Reliance Industries has finalised its 2015 diesel and jet fuel term contracts at lower premiums than last year, traders said on Thursday.

The company agreed to sell 500 ppm sulphur diesel at a premium of about $1.30 a barrel above Middle East quotes, lower than the $2.25 to $2.50 a barrel negotiated for last year, they said.

It also agreed to sell the 10 ppm sulphur diesel at a premium of about $2 a barrel above Middle East quotes, lower than the $2.50 to $3 levels it achieved for 2014 term contracts, the sources added.

For jet fuel, Reliance finalised its 2015 term at a premium of $1.85 a barrel to Middle East quotes, lower than the $2 a barrel it negotiated last year, they said.

Details on buyers and volumes could not immediately be confirmed.