Indian Oil Corp offers 35,000-40,000 tonnes naphtha ex-Dahej

02 May 2013 09:20  [Source: ICIS news]

SINGAPORE (ICIS)--Indian Oil Corp (IOC) is offering by tender a naphtha cargo of 35,000-40,000 tonnes for loading from Dahej, traders said on Thursday.

The loading dates are 30 May-1 June, they added.

The tender closes on 8 May, with bids to stay valid until 9 May, traders said.

IOC previously sold by tender naphtha exports from Kandla and Dahej for loading in the first half of May.

The state-owned oil and gas company sold a 20,000 tonne naphtha cargo for loading from Kandla on 8-10 May as well as a 10,000 tonne naphtha cargo for loading from the same port on 14-16 May.

Trading firm Vitol was the buyer of the Kandla-loading cargoes, which were sold at a premium $36.30/tonne (€27.59/tonne) to IOC pricing formula FOB (free on board).

In the same tender, IOC also sold 35,000-40,000 tonnes of naphtha to Total for loading from Dahej on 14-16 May. The deal for the cargo was done at a premium $36.15/tonne to IOC pricing formula.

($1 = €0.76)

By: Felicia Loo

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