India’s Reliance sells 75,000 tonnes of naphtha to Itochu

23 April 2010 10:21  [Source: ICIS news]

SINGAPORE (ICIS news)--India's Reliance Industries has sold by tender 75,000 tonnes of naphtha to Itochu for loading from Sikka on 24-28 May, traders said on Friday.

The cargo was awarded at a premium of $25/tonne (€19/tonne) to Middle East quotes FOB (free on board), they said.

Reliance last sold 50,000 tonnes of naphtha by tender to Shell for lifting from Sikka on 8-12 May, at a premium of $23-25/tonne to Middle East quotes FOB.

The company is in the process of restarting its polypropylene (PP) and polyethylene (PE) plants at Hazira in Gujarat state after a 17-day turnaround. 

Reliance's complex at Hazira, including an 800,000 tonne/year naphtha cracker, a 450,000 tonne/year PP plant and 480,000 tonne/year PE facility, was shut down on 2 April for maintenance. 

($1 = €0.75)

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By: Felicia Loo



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