India ONGC sells 35,000 tonnes mid-April naphtha to UNIPEC

30 March 2012 04:37  [Source: ICIS news]

SINGAPORE (ICIS)--India's Oil and Natural Gas Corp (ONGC) has sold 35,000 tonnes of naphtha at a premium of above $40/tonne (€30/tonne) to China International United Petroleum & Chemicals Co Ltd (UNIPEC), several traders said on Friday.

The naphtha cargo was sold – on FOB Middle East price quotes basis - for loading from Mumbai on 14-15 April, the traders said.

ONGC last awarded a 35,000 tonnes naphtha parcel to UNIPEC on 5 March at a premium of $60/tonne to FOB Middle East price quotes, the traders added.

Naphtha premiums have softened amid easing concerns over supplies and subdued buying interest from regional cracker operators.

($1 = €0.75)

By: Quintella Koh
+65 6780 4372

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