Indian Oil sells 50,000 tonnes naphtha for second-half July

01 July 2011 04:45  [Source: ICIS news]

SINGAPORE (ICIS)--Indian Oil Corp (IOC) has sold by tender 50,000 tonnes of naphtha for loading in the second half of July, traders said on Friday.

The company sold 35,000 tonnes of naphtha to Total at a premium of $9.50/tonne (€6.56/tonne) to IOC’s pricing formula on a FOB (free on board) basis for loading from Dahej on 22-24 July.

The other 15,000 tonnes of naphtha was sold to Glencore at a discount of $9/tonne to IOC’s formula, also on an FOB basis, for loading from Haldia on 14-16 July, the traders added.

($1 = €0.69)

For more on naphtha, visit ICIS chemical intelligence


By: Felicia Loo

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