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

The company agreed to sell 500 ppm sulphur gas-oil 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.

Source : economictimes.indiatimes.com