Qatar’s Woqod issues tender to buy bitumen

State-controlled Qatar Fuel's subsidiary Woqod has issued its third tender this year to import 12,000-15,000t of bitumen for delivery from 25 April to 5 May.

The tender closes on 8 April. It will be finalised on the average of Argus or Platts' spot assessments plus premium basis. The price is to be converted to a fixed price. The tender did not specify which Argus bitumen price will be used in the pricing formula, and Woqod could not be reached for comment.

Woqod's last tender was awarded to Singapore-based Puma Energy, which delivered the first of two cargoes to Mesaieed port in Qatar today. The 14,911t vessel The Sheriff loaded a cargo from Singapore for Qatar. The second cargo is coming from the Mediterranean.

Woqod has been importing around 15,000-20,000 t/month of bitumen as it gears up to finish road construction projects ahead of the 2022 Fifa World Cup. Bitumen sales have slowed in Qatar because of the Covid-19 outbreak, although it has not imposed a formal or partial lockdown, unlike other Gulf Co-operation Council (GCC) countries.

Qatar's import demand has been met by deliveries from the Mediterranean since November 2018, with supplies mostly coming from Vitol and Puma.

By Aabha Gandhi

source: Argus Media