09 August 2007 06:22 [Source: ICIS news]
SINGAPORE (ICIS news)--India’s Essar Oil has issued a tender to export one naphtha cargo for August loading, boosting India’s export volume to more than 900,000 tonnes this month, traders said on Thursday.
The Indian refiner offered 35,000 tonnes of naphtha for end-August loading from Vadinar, via a tender which will close on Friday, they added. The tender is expected to be awarded early next week.
Essar Oil last sold one mid-July naphtha cargo to European trader Vitol at a $7/tonne premium to the Middle East spot quotes, FOB (free on board) Vadinar, traders said.
In all, the refiner has sold around 100,000 tonnes of naphtha for July loading, which constituted 11% of total Indian naphtha exports for that month.
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