India’s Reliance sells H2 July naphtha at $27.50/t premium

06 July 2009 10:23  [Source: ICIS news]

SINGAPORE (ICIS news)--India’s Reliance Petroleum has sold a naphtha cargo for lifting in the second half of July at a premium of  $27.50/tonne (€20/tonne) to Middle East quotes, industry sources said on Monday.

The 55,000 tonne cargo scheduled for lifting over 23-25 July was sold to western trader Vitol at a much higher premium to Middle East quotes FOB (free on board) Sikka compared to the 50,000 tonne cargo it previously sold for lifting over 10-15 July. The cargo fetched a $20-22/tonne premium.

Indian suppliers had been fetching good premiums for their cargoes due to tight supply in the region, the sources said.

($1 = €0.72)

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By: Desmond Chia
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