Oil & Natural Gas Corp sells 35,000 ton naphtha cargo at premium of US$8

06-Oct-09
India’s Oil & Natural Gas Corp (ONGC) had offered only one naphtha cargo of 35,000 tons for end-October. The Indian major has realised a premium of eight dollars on the cargo, about half of its previous realisation. ONGC sold a parcel for Oct. 29-30 from Mumbai to Itochu to Middle East quotes on a free-on-board (FOB) basis. This was down from premiums of US$17/ton for a similar cargo on Oct. 5-6.
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