India's ONGC sells May naphtha to western trader

24 April 2008 09:53  [Source: ICIS news]

SINGAPORE (ICIS news)--India’s Oil and Natural Gas Corp (ONGC) has awarded its two naphtha sell tenders for May lifting to a western trader, industry sources said on Thursday.

The first tender, which offered a 35,000 tonne cargo to be lifted over 20-21 May from Hazira on the west coast, was awarded at premium of $5.80-5.90/tonne to Middle East quotes FOB (free on board).

The second tender, which offered a similar cargo, was sold at a premium of $3.10-3.20/tonne to Middle East quotes FOB to be lifted at the same refinery over 7-8 May.

Both tenders had closed on 22 April, with validity till 23 April.

ONGC previously sold a similar cargo at a premium of $5.85/tonne to Middle East quotes FOB Hazira to a western major for 27-28 April loading from Hazira.

By: Desmond Chia
+65 6780 4359

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