Indian Oil Corp. (IOC) sells naphtha from Kandla and Dahej

State-run Indian Oil Corp. (IOC) has sold 180,000 tons of naphtha to be loaded from Kandla between October 2007 and March 2008 to Emirates National Oil Co (ENOC) at an US$8/ton premium to its price formula, free-on-board (FOB) basis, as per a trading source. IOC also sold 91,500-94,500 tons of naphtha to be loaded from Dahej during October-December to European trader Vitol at a US$4/ton premium to the price formula, FOB basis. Indian power plants have changed over to natural gas as feedstock from naphtha, leading to increased exports came form India. Indian refiners, including IOC, have sharply increased their overall naphtha exports recently to a monthly average of 940,000 tons during May to August, as against 670,000 tons in the first four months of the year.
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