India’s ONGC sells 35,000 tonnes naphtha for 4-5 June loading

22 May 2013 03:37  [Source: ICIS news]

SINGAPORE (ICIS)--Indian state-owned refiner Oil and Natural Gas Corp (ONGC) has sold by tender 35,000 tonnes of naphtha for loading from Mumbai on 4-5 June, a trader familiar with the tender said on Wednesday.

The buyer was oil major Shell and the deal for the cargo was done at a premium of  $25.00/tonne (€19.25/tonne) to Middle East quotes FOB (free on board), the trader added.

ONGC previously sold by tender a 35,000 tonne naphtha cargo to Japanese firm Marubeni for loading from Hazira on 29-30 May at a premium of $30.00/tonne to Middle East quotes FOB.

Meanwhile, ONGC floated an export tender for 35,000 tonnes of naphtha for loading from Hazira on 12-13 June. The tender closes on 27 May, with bids to stay valid until 28 May.

($1 = €0.77)

By: Felicia Loo

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