fuel oil PARCO issues fuel oil sales tender for July fuel oil.

The major domestic consumers of furnace oil are power plants, though the current economic crisis, soaring inflation, and massive currency devaluation against the US dollar have pushed the electricity demand toward the lower side, causing local demand for furnace oil to fall below 10 percent. Pakistan's Pak-Arab Refinery Limited (PARCO) has offered fuel oil for July loading in its latest tender, underlining an ongoing shift in market dynamics as the South Asian country turned to exporting instead of importing fuel oil this summer. [Extracted from the article]