<div>Reliance Industries has finalised its 2013 term contracts to supply gasoil and jet fuel to several buyers and is negotiating with a few more, all at levels higher than those of most other refiners, industry sources said.<br /><br />It has completed a 500 ppm sulphur gasoil contact with at least one buyer at premiums close to $2.70 a barrel to the new benchmark Middle East quotes and a 10 ppm sulphur diesel contract at premiums of about $4.30 to $4.50 a barrel, the sources said on Wednesday.<br /><br />The gasoil cargoes will be priced off the 500 ppm sulphur gasoil quotes instead of the current 5,000 ppm, in line with a shift in benchmark by pricing agency Platts, which comes into effect in January.<br /><br />For jet fuel, the Indian refiner has concluded its 2013 term contracts at premiums of about $2.40 to $2.50 a barrel, the sources said.<br /><br />Details on exact volumes and buyers were not immediately available.<br /><br />The refiner is likely to continue negotiations with several other companies, especially for the 500 ppm sulphur gasoil, traders said.</div>
