India’s ONGC offers 35,000 tonnes naphtha for 4-5 June loading

04 May 2012 09:02  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Oil and Natural Gas Corp (ONGC) has issued a tender to sell 35,000 tonnes of naphtha for loading from Hazira in western India on 4-5 June, traders said on Friday.

The company is selling the cargo on free-on-board (FOB) Middle East price quotes, the traders said.

ONGC is currently in the process of evaluating submitted bids and is expected to announce the tender results over the weekend, the traders added.

ONGC last sold 35,000 tonnes of naphtha, for loading from Hazira on 23-24 May, to trading house Gunvor at plus $49.00/tonne (37/tonne) to FOB Middle East price quotes.

($1 = €0.76)

By: Quintella Koh
+65 6780 4372

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