India’s HPCL sells 45,000 tonnes naphtha for 24-30 May

09 May 2013 11:44  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Hindustan Petroleum Corp Ltd (HPCL) has sold by tender two naphtha cargoes totalling 45,000 tonnes to Vitol for loading from Mumbai on 24-30 May, traders said on Thursday.

One cargo is of 20,000 tonnes and the other 25,000 tonnes, traders said.

The deal for the cargo was done at a premium of $16/tonne (€12/tonne) to Middle East quotes FOB (free on board), they added.

HPCL last sold by tender 25,000-30,000 tonnes of naphtha for loading from Visakhapatnam port on 8-10 May.

State Oil Company of the Azerbaijan Republic SOCAR was the buyer of the cargo, which fetched a premium of $38.68/tonne to Middle East quotes FOB.

($1 = €0.76)

By: Felicia Loo

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