India’s ONGC scraps tender to sell mid-April naphtha stem

29 March 2011 02:56  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Oil and Natural Gas Corp (ONGC) has cancelled a tender to sell 35,000 tonnes of naphtha for loading from Hazira on 17-18 April, a tender notice showed on Tuesday.

No reasons were given.

Asia first-half May naphtha contract edged down to $987.50-990.50/tonne (€701.13-703.26/tonne) CFR (cost and freight) Japan on Tuesday because of lower Brent crude futures, ICIS data showed.

The contract closed at $991-993/tonne CFR Japan on Monday.

($1 = €0.71)

For more on naphtha, visit ICIS chemical intelligence

By: Felicia Loo

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