A shutdown of ONGC's key unit at its biggest gas field has led to diminished supplies of naphtha. This supply crunch is likely to push ONGC in a situation where it will not offer any further cargoes of naphtha for Jan/Feb loading, as the platform will be shut until Jan 25. Work to upgrade a processing platform at its South Bassein gas field, off the west coast, has cut gas supplies by 26%.
ONGC typically sells 3 cargoes of 35,000 tons each from Hazira terminal every 35 days, and two cargoes of a similar capacity from Mumbai every 40 days. It seems likely that 3 Hazira cargoes and 2 Mumbai cargoes will not be offered.