India’s Reliance sells 110,000 tonnes naphtha to Shell, Itochu

21 January 2011 08:20  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Limited (RIL) has sold by tender 110,000 tonnes of naphtha to Shell and Japan’s Itochu Corp for loading from Sikka, Gujarat state, in the second half of February, traders said on Friday.

The cargoes were sold at Middle East market quotes plus $21–22/tonne (€15.50–16.30/tonne) FOB (free on board), they added.

RIL last sold 55,000 tonnes of spot naphtha to Trafigura for loading from Sikka from late January to early February, at a higher premium of $25/tonne to Middle East quotes FOB.

($1 = €0.74)

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By: Felicia Loo

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