India’s ONGC sells 35,000 tonne March naphtha to Itochu

18 February 2010 07:50  [Source: ICIS news]

SINGAPORE (ICIS news)--India’s Oil and Natural Gas Corp (ONGC) has sold by tender 35,000 tonnes of naphtha to Itochu for loading from Hazira on 19-20 March, traders said on Thursday.

The cargo fetched a premium of $20.00-21.00/tonne (€14.60-15.33/tonne) to Middle East FOB (free on board) quotes, they said.

ONGC last sold via tender 35,000 tonnes of naphtha at a premium of $20.50/tonne to Middle East FOB quotes, for loading from Mumbai on 6-7 March. A second similar-sized parcel was sold at a premium of $27.00/tonne Middle East FOB, for loading on 9-10 March from Hazira.

($1 = €0.73)

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By: Felicia Loo

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