Egyptian General Petroleum Corp offers 1.01 mln tons naphtha for January-June 2011

Egyptian General Petroleum Corp (EGPC) has offered 1.01 mln tons of naphtha for January-June 2011 lifting from Suez and Alexandria via a tender. This is lower than offering of 1.42 mln tons in H2-2010, as per Reuters. About 18 25,000 ton cargoes have been offered from Alexandria and 16 35,000 ton parcels have been offered from Suez in the term tender. The tender will close on December 15 with bids remaining valid until December 24. In September, EGPC sold 350,000 tons of naphtha for September-December loading from Suez at a premium of US$2-6.50/ton to Middle East quotes on a free-on-board (FOB) basis.
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