India’s ONGC sells 35,000 tonnes naphtha at stronger premium

30 August 2012 10:38  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Oil and Natural Gas Corp (ONGC) has sold by tender 35,000 tonnes of naphtha for loading from Mumbai on 13-14 September at a sharply higher premium because of tight regional supply, traders said on Thursday.

The cargo was awarded to SOCAR at a premium of $32.50/tonne (€26.00/tonne) to Middle East quotes FOB (free on board), they added.

In its previous tender, ONGC sold 35,000 tonnes of naphtha for loading from Hazira on 10-11 September. The cargo was awarded to France’s Total at a premium of $23.50/tonne to Middle East quotes FOB.

($1 = €0.80)


By: Felicia Loo



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