India’s IOC awards Nov naphtha sell tender

10 October 2008 05:23  [Source: ICIS news]

SINGAPORE (ICIS news)--State-run Indian Oil Corp (IOC) has awarded its naphtha sell tender for early November lifting to trading house Totsa, industry sources said on Friday.

 

The tender offered a 30,000-tonne cargo of open spec naphtha (OSN) for lifting from Chennai over 1-4 November. The tender had closed on 7 October, with validity till 8 October.

 

The cargo was sold to Totsa at a discount of $18.00/tonne to Middle East quotes on a FOB (free-on-board) Chennai basis, market sources said.

 

The tender was earlier cancelled and re-issued due to low bids, possibly at discounts of $30.00/tonne, they added.  

 

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By: Desmond Chia
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