India’s BPCL offers naphtha supply for May to August

16 April 2013 06:52  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL has issued two tenders offering naphtha supply from May to August, said a trader familiar with the tenders on Tuesday.

In the first tender, BPCL offered an 11,000-tonne naphtha cargo for loading from Haldia on 6-10 May, he added. The tender closes on 17 April, with bids to stay valid until 18 April, the trader said.

In the second tender, BPCL put on sale a 38,000-tonne naphtha cargo for loading each month from Mumbai during June, July and August. The loading period will take place in the second half of each month, the trader said.

In the second tender, buyers have the option to acquire another 20,000 tonnes of naphtha for loading from Kochi each month from June to August, he added.

The second tender closes on 22 April, with validity until 23 April, the trader said.

In its previous tender, BPCL sold 35,000 tonnes of naphtha to Japanese firm Itochu for loading from Kochi on 15-18 May. The deal for the cargo was done at a premium of $42/tonne (€32/tonne) to Middle East quotes FOB (free on board).

In the same tender, BPCL sold two 38,000 tonne naphtha cargoes to PetroDiamond for loading from Mumbai in May. The deal for the cargo for loading on 9-11 May was done at a premium of $38/tonne to Middle East quotes FOB quotes, while the second cargo fetched a premium of $36/tonne to Middle East quotes FOB for loading on 19-21 May.

($1 = €0.77)

By: Felicia Loo

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