India's Essar Oil sells August naphtha at $20-21/tonne premium

08 August 2012 09:48  [Source: ICIS news]

SINGAPORE (ICIS)--India's Essar Oil has sold by tender 28,000-33,000 tonnes of naphtha for loading from Vadinar on 23-25 August, traders said on Wednesday.

The cargo was awarded to trading firm Vitol at a premium of $20-21/tonne (€16-17/tonne) to Middle East quotes FOB (free on board), they added.

Prices dropped from its previous tender, when Essar sold a 23,000-25,000-tonne parcel at a premium of $22/tonne to FOB Middle East quotes to global major Shell, for loading on 15-19 August from Vadinar.

($1 = €0.81)

By: Felicia Loo

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