Indian Oil sells naphtha for mid July loading at a 36% lower premium

22 June 2012 10:46  [Source: ICIS news]

SINGAPORE (ICIS)--State-owned Indian Oil Corp (IOC) has sold by tender 35,000 tonnes of naphtha to trading firm Totsa at a 36% lower premium from its last settlement, traders said on Friday.

The cargo fetched a premium of $12.00/tonne (€9.60/tonne) to the Middle East quotes FOB (free on board) for loading from Dahej port between 10-12 July, they added.

“Based on the current market, this premium is not too bad,” a Singapore-based trader said.

IOC previously sold by tender 35,000 tonnes of naphtha to Petrochina at a premium of $18.75/tonne to FOB Middle East price quotes for loading from Dahej on 18-20 June.

($1 = €0.80)

By: Ong Sheau Ling
+65 6780 4359

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