India’s Reliance sells 110,000 tonnes naphtha for late December

28 November 2013 10:13  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has sold 110,000 tonnes of naphtha for loading in late December, to oil major Shell and trading firm Glencore, traders said on Thursday.

The loading from Sikka will take place on 20-25 December, they said.

The deal for Shell was done at a premium of $32-33/tonne (€24-25/tonne) to FOB (free on board) Middle East quotes, while the deal for Glencore was done at FOB Middle East quotes plus $27-28/tonne, traders said.

Previously, Reliance sold 75,000 tonnes of naphtha for loading from Sikka on 10-15 December, to Glencore. The deal for the cargo was done at FOB Middle East quotes pricing plus $40/tonne.

($1 = €0.74)

By: Felicia Loo

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