19 July 2010 08:32 [Source: ICIS news]
SINGAPORE (ICIS news)--India’s Oil and Natural Gas Corp (ONGC) has sold by tender only one 35,000 tonne cargo of naphtha for loading on 10-11 August, instead of 70,000 tonnes as planned, traders said on Monday.
The buyer was energy major Shell, they said.
The cargo fetched a discount of $5.50/tonne (€4.24/tonne) to ?xml:namespace>
Prices fell drastically due to a bearish naphtha market, which was awash in surplus and poor demand, they said.
($1 = €0.77)
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