BPCL inks first naphtha term deal with a 4 month naphtha contract deal with China's Unipec

02-Jun-14

India's Bharat Petroleum Corp Ltd (BPCL) has signed a four-month naphtha contract deal with Chinese trading house Unipec, making this the first term deal between the parties. Unipec will lift a 35,000 ton cargo each month from Kochi port from July to October, or a total of 140,000 tons during the four-month period, as per Reuters. The deal was concluded at a premium of around US$1/ton to the refiner's own pricing formula on a free-on-board (FOB) basis.