ONGC, BPCL sell naphtha at higher premiums

13-Apr-12
Oil and Natural Gas Corp Ltd (ONGC) sold a May naphtha cargo to China's Unipec at about US$46/ton premium (7% higher than a previous deal), as tight supply supported prices, as per Reuters. Bharat Petroleum Corp (BPCL) sold an April cargo to PetroChina Co Ltd at about US$20/ton above Middle East quotes on a free-on-board (FOB) basis, nearly three times higher than a previous sale, but this could also be due to the naphtha having a lower content of gasoline additive MTBE.
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