Steep premium of US$49 for May naphtha sold by ONGC to Gunvor

26-Apr-12
India's Oil & Natural Gas Corp (ONGC) sold 35,000 tons of May naphtha to Gunvor at steep premiums of about US$49/ton to Middle East quotes on a free-on-board (FOB) basis. This is a 6.5% rise for cargo sold to Unipec for May 13-14 loading at a US$4, when compared to recent sale, as per Reuters. The deal with Gunvor was done late on Tuesday and the cargo will be lifted on May 23-24 from Hazira port in western India. The premium was higher than a previous cargo sold to Unipec for May 13-14 loading at US$46/ton premium, on account of a supply issue in India. MRPL, a subsidiary of ONGC, has shut its 300,000 bpd) refinery following water shortage. As a result, IOC cancelled two tenders to sell up to 70,000 tonnes of naphtha for May loading from Kandla and Dahej ports.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha
Reclamax single step plastic recycling machine

Reclamax single step plastic recycling machine