India's MRPL sells early May naphtha at premium

10 April 2008 07:22  [Source: ICIS news]

SINGAPORE (ICIS news)--India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has awarded its naphtha sell tender for early May lifting, industry sources said on Thursday.

The tender which was awarded at a premium of around $14/tonne (€8.96/tonne) to Middle East quotes FOB (free on board) Mangalore, offers 30,000 tonnes naphtha to be lifted ex-Mangalore over 6-8 May. It closed on 8 April, with validity till 9 April.

The tender was supposed to close on 2 April, but sources said it was re-issued because of technical issues.

MRPL earlier cancelled its naphtha sell tender for second half of April lifting due to low bids. Sources said the cargo was diverted to the domestic market. The tender offered 30,000 tonnes of naphtha to be lifted ex-Mangalore over 24-26 April.

MRPL last sold a similar cargo at a premium of around $19.00/tonne to Middle East quotes FOB Mangalore for loading 24-26 March.

($1=€0.64)

By: Desmond Chia
+65 6780 4359

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