India cuts September naphtha exports by around 30%

28 August 2012 03:37  [Source: ICIS news]

SINGAPORE (ICIS)--Indian refiners are estimated to slash naphtha exports to 500,000-600,000 tonnes in September, down by 29-33% from a monthly average of 700,000-900,000 tonnes, because of higher domestic demand for the petrochemical feedstock, traders said on Tuesday.

Some refinery maintenance will see a reduction in naphtha output in India, hence that will limit exports, they added.

“The [Indian] refiners are definitely keen to produce more gasoline than naphtha,” said a trader.

Some naphtha is being diverted to the gasoline blending pool, given strong demand for gasoline, traders said.

Asia’s naphtha crack spread surged to a four-month high of $130.55/tonne (€104.44/tonne) on Monday, according to ICIS data.

($1 = €0.80)

By: Felicia Loo

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