Reliance buys Egypt naphtha at $8-15/t premium

12 September 2007 10:36  [Source: ICIS news]

SINGAPORE (ICIS news)--India’s Reliance Industries has purchased most of Egyptian General Petroleum Corp's (EGPC) term naphtha supplies from September to December, a trading source said on Wednesday.

 

Reliance paid a premium of between $8-15/tonne to the Middle East spot quotes for 30,000-35,000 tonne naphtha cargoes that EGPC was supplying from the Suez each month.

 

The Middle East is a swing naphtha supplier to Asia and Europe, where chemical demand for feedstock naphtha is rapidly growing.

By: Nurul Darni
65 6789 4359

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