India’s Reliance sells 35,000 tonnes naphtha for late December

29 November 2013 09:51  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has sold 35,000 tonnes of naphtha for loading from Sikka on 26-30 December, traders said on Friday.

The deal for the cargo was done at a premium of $21-22/tonne (€16-17/tonne) to FOB (free on board) Middle East quotes over the December month average pricing, they said.

Earlier this week, Reliance sold 110,000 tonnes of naphtha to oil major Shell and trading firm Glencore for loading from Sikka on 20-25 December.

The deal for Shell was done at a premium of $32-33/tonne to FOB Middle East quotes pricing, while the deal for Glencore was done at FOB Middle East quotes plus $27-28/tonne, traders said.

($1 = €0.74)

By: Felicia Loo

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