Industry sources said that India's Hindustan Petroleum Corp has sold a rare gasoline cargo through a tender. They said that the refiner sold 25,000 to 30,000 tonnes of 90 RON gasoline for November 25 to 27 loading to Vitol at a discount of USD 1.75 per barrel to Singapore quotes on a free on board basis.

It is unusual for the Indian state owned refiner to export gasoline as it is usually a net importer of the product

Sources in India said that the cargo was said to be not compatible with the domestic Indian specifications as its sulphur content was too high.

One of the sources said that "It's only a one time cargo, public sector units or state refiners don't ever sell gasoline unless it's off-specs, which cannot be sold in the domestic market, so this cargo didn't match the Euro III standards.

A second source said that the sale of the cargo was due to a domestic surplus of the product.