Naphtha Tenders for the week

12-Apr-11

As per Reuters, Shell bought BPCL's 35,000 tons for April 27-29 loading from Mumbai at around US$23.30/ton premiums to Middle East quotes on a FOB basis. It bought another 30,000 tons from IOC for April 28-30 loading from Kandla at premiums of about US$22/ton to BPCL’s price formula on FOB basis. Separately, IOC sold 15,000 tons for April 28-30 loading from Haldia to PetroChina at premiums of US$11/ton on FOB basis. It also has an outstanding tender to sell 35,000 tons for May 7-9 loading from Dahej. The tender closes on April 18, with bids to stay valid until April 19. Oil & Natural Gas Corp. offered to sell naphtha for loading in April from Hazira on India’s west coast. The company canceled an offer on March 28 to sell a cargo loading April 17-18 from the same port because of “unavoidable circumstances.