UpdateIndia's BPCL sells 46,000 tonnes naphtha for October

27 September 2012 08:26  [Source: ICIS news]

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SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender two naphtha cargoes totalling 46,000 tonnes for loading in October, traders said on Thursday.

BPCL awarded an 11,000-tonne cargo for loading from Haldia on 10-14 October to Trafigura, at a discount of $10.00/tonne (€7.80/tonne) to Middle East quotes FOB (free on board), they said.

The cargo contained high amount of methyl tertiary butyl ether (MTBE), traders said. MTBE is used as an additive to boost octane levels in gasoline.

The remaining 35,000-tonne cargo for loading from Mumbai on 22-24 October was awarded to Japanese trading house ITOCHU at a premium of $34.00/tonne to Middle East quotes FOB, they said.

($1 = €0.78)

By: Felicia Loo

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