Fire breaks out at refinery: EGPC delays naphtha shipments

A fire broke out last Saturday at Egypt's Nasr Petroleum Company. The company is in the process of restarting its 146,300 bpd refinery in Suez, as per Reuters. The accident has prompted EGPC to delay two naphtha shipments, originally scheduled for H2 April, to be lifted in May and June from Suez port. A third April naphtha cargo was due to be shipped out last weekend when the fire broke was slightly delayed. Since Suez exports about 60,000 to 90,000 tons of naphtha to Asia, this delay in naphtha shipments is likely to have an impact on the Asian market amid tight supplies in May du e to limited cargoes from Europe. According to an official, the fire started at a warehouse at the refinery, which is operated by Egyptian General Petroleum Corporation's (EGPC) subsidiary El Nasr Petroleum since 1913.
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