India’s Essar Oil sells 35,000 tonnes naphtha at $49/tonne premium

07 November 2012 01:45  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Essar Oil has sold by tender a 35,000 tonne naphtha cargo to Mitsubishi Corp for loading from Vadinar, traders said on Wednesday.

The deal for the cargo was done at a premium of $49.00/tonne (€38.20/tonne) to Middle East quotes FOB (free on board) for loading between 30 November and 4 December, they added.

Essar Oil previously sold by tender 35,000 tonnes of naphtha to Vitol at a premium of $35.00-36.00/tonne to Middle East quotes FOB.

The premium was sharply higher in the latest tender, in reflection of tight supply of the petrochemical feedstock in Asia.

($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