ONGC, MRPL realize lower premium on 130,000 tons of naphtha for February-May lifting

Mangalore Refinery and Petrochemicals Ltd (MRPL) and Oil & Natural Gas Corp (ONGC) have realized lower premiums on 130,000 tons of naphtha for February-May lifting. Spot premiums for next month have been impacted by the expected arrival of naphtha from the West. ONGC sold 35,000 tons of naphtha for Feb. 10-11 lifting from Hazira to Total at a premium of US$38/ton to Middle East quotes on FOB basis. Another 35,000 tons for Feb. 14-15 from Mumbai to Petro-Diamond was sold at a premium of around US$34/ton FOB, as compared to steep premiums of US$47-50/ton FOB for four spot parcels lifting from Hazira and Mumbai in January. MRPL realized an average price of about US$23/ton.
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