India’s ONGC offers 35,000 tonnes naphtha for loading on 7-8 April

09 March 2012 09:28  [Source: ICIS news]

SINGAPORE (ICIS)--Indian refiner Oil and Natural Gas Corporation (ONGC) is offering by tender 35,000 tonnes of naphtha for loading from Hazira on 7-8 April, the company said on Friday.

The tender closes at 09:30 hours India time (15:00 hours GMT) on 14 March and will remain valid until 19:30 India time on the same day, the company said.

The cargo will be priced at Middle East quotes FOB (free on board).

ONGC previously sold 35,000 tonnes of naphtha for loading from Mumbai on 21-22 March via tender to Sinopec’s trading arm China International United Petroleum & Chemical (UNIPEC), traders said on 5 March.

The naphtha parcel was sold at a record-high premium of $60/tonne (€45/tonne) to FOB Middle East quotes, the traders said.

($1 = €0.75)

By: Quintella Koh
+65 6780 4372

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