Indian Oil sells 35,000 tonnes naphtha for 10-12 Oct

22 September 2010 05:49  [Source: ICIS news]

SINGAPORE (ICIS)--Indian Oil Corp (IOC) has sold by tender 35,000 tonnes of naphtha to JP Morgan for loading from Dahej on 10-12 October, traders said on Wednesday.

The cargo fetched a premium of $2/tonne (€1.5/tonne) to Middle East quotes FOB (free on board), they said.

In its last tender, IOC sold 30,000 tonnes of naphtha to Itochu for loading from Kandla on 28-30 September, at a premium of $8/tonne to IOC price formula FOB.

The naphtha market was in doldrums due to a glut, traders said.

($1 = €0.75)

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By: Felicia Loo

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