Indian Oil skips benzene exports in Jan, may have some spot in Feb

18 January 2013 07:00  [Source: ICIS news]

SINGAPORE (ICIS)--State-owned Indian Oil Corp has skipped benzene exports for January but may have some spot cargoes to offer in February subject to domestic demand, a source close to the company said on Friday.

Absence of spot cargoes for exports in January was because of the relatively healthy domestic demand, traders said.

“There may be some cargoes for export in February. That will depend on the domestic demand,” the source close to the company said.

Indian Oil is currently running its Panipat-based 120,000 tonne/year benzene unit at close to 100%. The unit is unlikely to be taken off line for an annual turnaround this year, the source added.

In the domestic market, Indian Oil quoted list prices at rupee (Rs) 80-81/kg ($$1.47-1.49/kg) ex-tank, traders added.

The other key benzene makers in India are Reliance Industries Ltd (RIL) and Haldia Petrochemicals.

($1 = Rs55.39)

Author: Ong Sheau Ling

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