RIL's 2014 gasoil contract at lower premium: report

Reliance Industries has finalised its 2014 term contracts to sell gasoil for January to December at lower premiums than last year, industry sources said on Wednesday.

The company agreed to sell 500 ppm sulphur gasoil at premiums of $2.25 to $2.50 a barrel above Middle East quotes, lower than the $2.70 a barrel premium negotiated for last year, the sources said.

Reliance also agreed to sell the 10 ppm sulphur diesel at premiums of $2.50 and $3 a barrel above Middle East quotes, also lower than 2013's premiums, they added.

Details on buyers could not immediately be confirmed.

As of 10.51 a.m., shares in the company traded 1.3 per cent higher at Rs 892.85 outperforming the broader BSE Oil and Gas benchmark, which was up 0.80 per cent.

With inputs from agencies