24 August 2012 09:28 [Source: ICB]
INDIA'S NUMALIGARH REFINERY EYES IPO
India's Numaligarh Refinery Limited (NRL) is looking at raising part of the $3.6bn (€2.9bn) required for its expansion project via an initial public offering (IPO) of new shares, a company official said. NRL is also considering floating bonds overseas to fund the project, in which it intends to triple its refining capacity in India's northeastern province of Assam to 9m tonnes/year by 2017, the official said. The project also includes construction of a 150km pipeline to transport high-speed diesel (HSD) to Bangladesh, the source said.
THAILAND'S IRPC SELLS HEAVY NAPHTHA CARGO
Thailand's refinery and cracker operator Integrated Refinery and Petrochemical Complex (IRPC) has sold by tender a 38,000-tonne heavy naphtha cargo for loading in the second half of September, traders said. The cargo was done at a premium of $50/tonne (€40/tonne) to Japan FOB (free-on-board) quotes, they added. IRPC previously sold by tender a 38,000-tonne heavy naphtha cargo at a premium of close to $60/tonne. The cargo for delivery in the second half of August and priced at a premium to Japan FOB quotes was bought late last week by Japanese trading firm Itochu.
QATAR'S TASWEEQ SELLS SPOT NAPHTHA
Qatar International Petroleum Marketing Co. (Tasweeq) has sold by tender full-range spot naphtha, plant condensate and gas-to-liquids (GTL) naphtha, for delivery in the last 10 days of September, traders said. The full-range naphtha and plant condensate will each be loaded in lots of 50,000 tonnes from Ras Laffan port, while the 25,000-30,000-tonne GTL naphtha parcel will be lifted from the same port, they added.
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