India’s HMEL sells 25,000 tonnes naphtha to Glencore

08 May 2013 03:25  [Source: ICIS news]

SINGAPORE (ICIS)--India’s HPCL-Mittal Energy Ltd (HMEL) has sold by tender a 25,000 tonne naphtha cargo to Glencore for loading in the second half of May, traders said on Wednesday.

The loading dates are 18-22 May, they added.

The deal for the cargo was done at a premium in the high $30s/tonne (€22.80/tonne) to Middle East quotes FOB (free on board), traders said.

HMEL is a joint venture between Hindustan Petroleum Corp Ltd (HPCL) and Mittal Energy Investment. Each company holds a 49% stake in HMEL, while the remaining 2% interest is held by financial institutions.

($1 = €0.76)

By: Felicia Loo

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index