India’s BPCL sells 76,000 tonnes naphtha for August ex-Mumbai

11 July 2013 09:16  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Bharat Petroleum Corp Ltd (BPCL) has awarded an export tender for two 38,000-tonne naphtha cargoes for loading from Mumbai, traders said on Thursday.

The deal for the first cargo, which is scheduled for loading on 8-10 August, was done at a premium of $22.00/tonne (€17.16/tonne) to Middle East quotes FOB (free on board). Trading firm Cargill was the buyer, traders said.

The deal for the second cargo, which was awarded to Japanese trading firm Marubeni, was done at Middle East quotes FOB pricing plus $24.00/tonne. The loading dates are 25-27 August, traders said.

In its previous tender, BPCL sold a 35,000-tonne naphtha cargo for loading from Kochi on 21-24 July. State Oil Co of the Azerbaijan Republic (SOCAR) was the buyer of the cargo, which fetched a premium of $27.00/tonne to Middle East quotes FOB.

In an earlier tender, BPCL sold two naphtha cargoes totalling 73,000 tonnes to trading company Trafigura – a 38,000-tonne cargo for loading from Mumbai on 13-15 July was sold at a premium of $26/tonne to FOB Middle East quotes, while a 35,000-tonne naphtha cargo for loading from Kochi on 5-8 July was done at a premium of $27/tonne to FOB Middle East quotes.

($1 = 0.78)


By: Felicia Loo



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