India’s ONGC scraps tender for 35,000 tonnes Feb naphtha

21 January 2013 09:44  [Source: ICIS news]

SINGAPORE (ICIS)--Indian state-owned refiner Oil and Natural Gas Corp (ONGC) has cancelled a tender to sell a 35,000-tonne naphtha cargo for loading from Hazira on 3-4 February, traders said on Monday.

The cancellation took place because of low bids, they said.

In its previous tender, ONGC sold a 35,000-tonne naphtha cargo to Total for loading from Hazira on 25-26 January.

The deal for the cargo was done at a premium of $44.25/tonne (€33.19/tonne) to Middle East quotes FOB (free on board).

($1 = €0.75)

By: Felicia Loo

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