India's Bharat offers Nov naphtha cargoes

17 October 2007 05:24  [Source: ICIS news]

SINGAPORE (ICIS news)--Bharat Petroleum, an Indian refiner, has issued a tender to export November loading naphtha cargoes, adding to supply woes in the Asian market already ample with exports from the country this month, traders said on Wednesday.

The Indian refiner’s tender offered two cargoes totalling 57,000 tonnes for loadings on 8-12 November and 12-16 November from Kochi and Mumbai respectively, traders familiar with the situation said. Bids are to be submitted by 18 October.

A slew of fresh export tenders from India recently have weighed on market sentiment and pressured spot discounts lower. This could prompt buyers to delay purchases of November delivery cargoes, traders said.

By: Nurul Darni
65 6789 4359

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