India’s Essar Oil sells 33,000-35,000 tonnes naphtha for end-Oct

04 October 2012 07:46  [Source: ICIS news]

SINGAPORE (ICIS)--India's Essar Oil has sold by tender 33,000-35,000 tonnes of naphtha for end-October loading from Vadinar, traders said on Thursday.

Japanese trading firm ITOCHU was the buyer. The deal for the cargo was concluded at a premium of $32.00-33.00/tonne (€25.00-25.70/tonne) to Middle East quotes FOB (free on board) for loading on 26-30 October, they added.

In its previous tender, Essar Oil sold a similar-sized cargo to Japanese trading firm Petro-Diamond at a premium of around $32/tonne to Middle East quotes FOB for loading from Vadinar on 12-16 October.

($1 = €0.78)

By: Felicia Loo

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