India's ONGC, MRPL sell 70,000 tonnes naphtha at higher premiums
05 July 2012 10:54 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>India’s Oil and Natural Gas Corp (ONGC) and its unit Mangalore Refinery and Petrochemicals (MRPL) sold in total 70,000 tonnes of naphtha for second-half July loading through tenders, traders said on Thursday.
ONGC awarded its tender to export a 35,000 tonne heavy full-range naphtha cargo from Hazira at a premium slightly below $28.00/tonne (€22.40/tonne) to Middle East spot quotes on a free-on-board (FOB) basis. The 24-25 July loading cargo was heard to have been booked by SK Energy, traders said.
ONGC's subsidiary MRPL supplied to Arcadia a similar-sized cargo loading on 28-30 July from New Mangalore at a premium of around $22.50/tonne to the same quotes, they said.
Both refiners last sold their July shipments at lower premiums of around $14.00-19.50/tonne.
($1 = €0.80)By: Yeow Pei Lin
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.