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



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