PNOC-EC to rebid contract for purchase of Euro 4 fuel

MANILA, Philippines — PNOC Exploration Corp., the oil and gas exploration arm of state-owned Philippine National Oil Co., will rebid the contract for its purchase of Euro 4 fuel.

PNOC-EC said it intends to purchase a 50,000 metric ton trial shipment of Philippine Standard Euro-4 50ppm gas or diesel fuel .

Subsequent shipments of up to four shipments per month and up to one year would be mutually agreed upon by both the seller and the buyer.

Origin and port of loading of the gas oil or diesel fuel will be designated by the seller.

Port of destination is “any safe point in the Philippines to be designated by PNOC-EC.”

Deadline for submission is on Sept. 13, at 12 noon.

The PNOC-EC earlier set a bid deadline of July 27, 2018, but did not specify the reason for the rebidding.

Interested sellers should be in the business of trading and supply of petroleum for at least three years and have completed the supply of petroleum of a minimum of three shipments for the last six months of at least 50,000 MT per shipment anywhere in the world.

Suppliers should have current ratio of at least 1:1 and has capitalization, credit line, or firm bank commitment to finance the contract.

First delivery of the gas oil or diesel fuel will be within 15 days after signing of the contract.