India’s Reliance awards mid-Feb naphtha sell tender to BP

03 February 2009 04:42  [Source: ICIS news]

SINGAPORE (ICIS news)--India's Reliance Industries has awarded its naphtha sell tender for mid February to BP, according to industry sources on Tuesday.

The tender for 55,000 tonne cargo of heavy naphtha was awarded at a premium of $36/tonne (€28/tonne) to Middle East quotes FOB (free on board) and will be lifted over mid-February from New Jamnagar.

The premium was much higher than what was applied to its end-January because of  tight supplies and healthy demand in Asia.

Reliance previously sold a smaller parcel of 35,000 tonnes to PetroChina at premium of more than $30/tonne to Middle East quotes FOB.

This cargo was scheduled for lifting over 29-30 January from New Jamnagar.

($1 = €0.78)

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By: Desmond Chia
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