India’s Reliance sells 50,000 tonnes naphtha for late February

02 February 2012 03:12  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has sold 50,000 tonnes of naphtha for loading from Sikka on 25-29 February, traders said on Thursday.

The cargo was awarded to Glencore at a premium of around $32/tonne (€24/tonne) to Middle East quotes FOB (free on board), they added.

The premium has increased because of tight supply in Asia, traders said.

Reliance previously sold by tender 50,000 tonnes of naphtha for loading from Sikka on 5-10 February, at a premium of around $27/tonne to Middle East quotes FOB.

($1 = €0.76)

For more on naphtha, visit ICIS chemical intelligence

By: Felicia Loo

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