India’s ONGC sells 35,000 tonnes naphtha at $23.50/tonne premium

24 August 2012 08:36  [Source: ICIS news]

SINGAPORE (ICIS)--Indian state-owned refiner Oil and Natural Gas Corp (ONGC) has sold by tender 35,000 tonnes of naphtha for loading from Hazira on 10-11 September, traders said on Friday.

The cargo was awarded to France’s Total at a premium of $23.50/tonne (€18.80/tonne) to Middle East quotes FOB (free on board), they added.

The premiums dropped from a previous tender because there were ample prompt supplies in the market, traders said.

ONGC previously sold by tender a 35,000-tonne naphtha parcel for loading from Hazira on 28-29 August to Total at a premium of $27.50/tonne to Middle East FOB quotes.

($1 = €0.80)


By: Felicia Loo



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