India’s BPCL sells 11,000 tonnes December naphtha to Vitol

19 November 2012 09:39  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has sold by tender an 11,000-tonne naphtha cargo to Vitol for loading in early December, traders said on Monday.

The deal for the cargo for loading from Haldia on 5-9 December was done at a discount of $18.00/tonne (€14.04/tonne) to Middle East quotes FOB (free on board), they said.

The cargo contained high amount of methyl tertiary butyl ether (MTBE), which is used as an additive to boost octane levels in gasoline.

In its last tender sale of a similar material, BPCL sold 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.

($1 = €0.78)

By: Felicia Loo

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