India’s ONGC sells 35,000 tonnes naphtha at lower premium

08 April 2013 10:28  [Source: ICIS news]

SINGAPORE (ICIS)--Indian state-owned refiner Oil and Natural Gas Corp (ONGC) has sold by tender a 35,000-tonne naphtha cargo at a lower premium because of a decline in petrochemical demand, traders said on Monday.

The deal for the cargo for loading from Hazira on 22-23 April was done at a premium of $48.00/tonne (€36.96/tonne) to Middle East quotes FOB (free on board). The buyer was Total, they said.

ONGC last sold by tender a similar-sized cargo to oil major BP for loading from Hazira on 13-14 April, at a premium of $49.50/tonne to Middle East quotes FOB.

($1 = €0.77)


By: Felicia Loo



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