Indian ONGC sells 35,000 tonnes naphtha for mid-November

27 October 2011 08:20  [Source: ICIS news]

SINGAPORE (ICIS)--Indian refiner Oil and Natural Gas Corporation (ONGC) has sold by tender 35,000 tonnes of naphtha to Japanese company Mitsui at a weaker premium, traders said on Thursday.

The cargo will be loaded from Hazira on 14-15 November, the traders added. 

The cargo fetched a premium of $18/tonne (€13/tonne) to Middle East quotes FOB (free on board), down from a premium of $23/tonne fetched in a previous tender for loading between 31 October and 1 November because of poor spot demand, traders said.

($1 = €0.72)

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By: Felicia Loo

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