India’s ONGC offers 35,000 tonnes naphtha for mid-July loading

18 June 2012 07:33  [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 Mumbai in western India on 12-13 July, according to a tender document obtained by ICIS on Monday.

The company is selling the parcel on a FOB (free on board) Middle East basis, the document stated.

The tender will close on 21 June, with bids valid until 22 June.

ONGC previously sold a naphtha cargo of 35,000 tonnes for end-June loading from Hazira to European firm Gunvor at a premium of $14/tonne (€11/tonne) to FOB Middle East price quotes.

($1 = €0.79)

By: Ong Sheau Ling
+65 6780 4359

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