Indian BPCL sells 30,000 tonnes naphtha for end-October

11 October 2012 05:36  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender 30,000 tonnes of naphtha for loading from Mumbai in late October, traders said on Thursday.

The buyer was Chinese trader Unipec, they said.

The cargo for loading on 29-31 October was done at a premium of $26/tonne (€20/tonne) to Middle East quotes FOB (free on board), traders said.

In its previous tender, BPCL sold two naphtha cargoes totalling 46,000 tonnes for loading in October.

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

The cargo contained high amount of methyl tertiary butyl ether (MTBE), which 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/tonne to Middle East quotes FOB.

($1 = €0.78)

By: Felicia Loo

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