Owing to low naphtha exports from India, Bharat Petroleum Corp Ltd (BPCL) has fetched a relatively high premium of US$35-40/ton to Middle East quotes, FOB basis on the recently sold 20,000-30,000 tons of high-aromatic naphtha to Itochu. The naphtha cargo is set for Jan 8-12 lifting. Several trade analysts feel the premium to be too high since there is no dearth of naphtha supply in the continent like four months ago.
Exports from India stood at an estimated 470,000 tons in December as compared with November exports of 700,000-730,000 tons, largely attributed to a switch by gas users to lower priced naphtha, improving domestic demand.
25-Dec-08 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}