Indian Oil Corp’s total spot naphtha exports for June stand at 65,000 tons

13-May-10

Indian Oil Corp (IOC) has reissued a tender to include an additional cargo for this month. On May 10, IOC offered 30,000 tons naphtha for June 10-12 loading from Kandla, but changed the tender in two days to include another 35,000 tons for June 7-10 loading from Chennai. With this, total spot naphtha for June has risen to 65,000 tons vs nearly 215,000 tons sold in May. IOC will be utilizing its naphtha as feedstock at its new Panipat naphtha cracker, impacting its export volumes.