IOC awards naphtha sell term tender for June-Sept

21 April 2008 08:14  [Source: ICIS news]

SINGAPORE (ICIS news)--Indian Oil Corp (IOC) has awarded a term tender to sell 122,000-126,000 tonnes of naphtha for lifting from June to September, industry sources said on Monday.

The tender was awarded at a premium of around $7/tonne to Middle East quotes FOB (free on board) Dahej.

The tender offers a 30,500-31,500 tonne cargo of full range naphtha to be lifted from 11-13 of each month through June to September from the port of Dahej on the west coast of India. The tender had closed on 16 April, and was valid till 17 April.

IOC previously sold similar early May spot cargoes at a premium of around $9/tonne to Middle East quotes FOB Dahej.

The port of Dahej is linked to the 274,000 bbl/day IOC Koyali refinery via a 112 km product pipeline.

By: Desmond Chia
+65 6780 4359

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