India's BPCL sells August naphtha at $11/tonne premium

26 July 2012 09:10  [Source: ICIS news]

SINGAPORE (ICIS)--Indian refiner Bharat Petroleum Corp Ltd (BPCL) has sold by tender 10,000 tonnes of naphtha for 5-9 August loading at a premium of $11/tonne, traders said on Thursday.

The cargo, which was priced on FOB (free on board) Middle East quotes basis, was sold to trading firm Vitol and will be loaded from Haldia.

“The premium seems a little high, given that the spot [naphtha] prices and [crack] spread has been decreasing over the week,” a Singapore-based trader said.

By: Ong Sheau Ling
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