India’s Bharat Petroleum sells 210,000 tonnes naphtha for Q2

17 February 2012 07:16  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender six naphtha cargoes totalling 210,000 tonnes for loading from Mumbai during April to June, traders said on Friday.

Two cargoes will be lifted each month, with each lot at 35,000 tonnes, they said.

Both Marubeni and Cargill won the April cargoes at premiums of $34.50/tonne (€26/tonne) and $34/tonne to Middle East quotes FOB (free on board), respectively, while PetroChina and Idemitsu won the May cargoes at respective premiums of $32/tonne and $29/tonne.

Idemitsu also won the June cargoes at premiums of $28 and $27/tonne.

In an earlier tender, BPCL sold 35,000 tonnes of naphtha for loading from Mumbai on 25-27 February, at a premium of $33.25/tonne to Middle East quotes FOB.

($1 = €0.76)

By: Felicia Loo

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