India ONGC offers May export naphtha via tender

09 April 2007 06:13  [Source: ICIS news]

SINGAPORE (ICIS news)--India’s Oil & Natural Gas Corp (ONGC) has issued a tender to export naphtha for May loading, its second cargo for the month, the Indian refiner said on Monday.

The tender offered one 35,000-tonne naphtha cargo for 22-23 May loading from Hazira, west coast of India, the refiner said in a tender document. It will close on 17 April and bids would remain valid for one day.

India’s ONGC has so far tendered to export two naphtha cargoes for May, but was still short of its usual three to four cargoes it typically exports each month, traders said.

In recent months, India’s average monthly exports this year had slipped to around 400,000 tonnes from a peak of 600,000 tonnes last year due to a pick up in domestic naphtha demand for power generation.

By: Nurul Darni
65 6789 4359

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