Strong domestic demand pushes BPCL to cancel naphtha export contract

25-Dec-07
India's Bharat Petroleum Corp. Ltd. (BPCL) has canceled a contract to export 180,000 tons of low aromatic naphtha, to meet domestic demand that could result in better price realisation. The domestic fuel demand fuel has been increasing, resulting in a shortfall of fuel to meet the demand. Imports have risen to levels of 80% of total crude oil in order to meet the rising demand. India's exports for December were lower than the 905,000 tons exported in November and more than 1 million tons in October.
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