UpdateIndian Oil sells 35,000 tonnes naphtha at $30/tonne premium

10 October 2012 07:59  [Source: ICIS news]

(adds details in third and fourth paragraphs)

SINGAPORE (ICIS)--Indian Oil Corp (IOC) has sold by tender 35,000 tonnes of naphtha for loading from Dahej in late October, traders said on Wednesday.

The deal for the cargo was done at a premium of $30.00/tonne (€23.40/tonne) to IOC pricing formula on a FOB (free on board) basis for loading on 25-27 October, they added.

The buyer was trading firm Glencore, traders said.

In its previous tender, IOC sold a naphtha cargo of 35,000 tonnes to PetroChina for loading from Chennai on 15-17 October, at a premium of $38.88/tonne to IOC pricing formula.

($1 = €0.78)

By: Felicia Loo

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly