HPCL-Mittal Energy Ltd offers 18,000 tons of naphtha for April 17-19 after long absence

29-Mar-17

India's HPCL-Mittal Energy Ltd (HMEL) offers 18,000 tons of naphtha for April 17-19 loading from Mumbai in its first tender seen this year, traders say, Reuters. It is not clear why HMEL made the offer but the refiner has a one-month long maintenance at the 180,000 bpd Bathinda refinery from end-April. Traders add that the HMEL cargo is not for naphtha crackers due to the high olefins content but suitable as a gasoline blending component. HMEL was last seen making a spot naphtha offer for August loading last year, Reuters data shows.