ONGC offers 35,000 tons of naphtha for February loading from Hazira after a cancelled cargo

28-Jan-14

Oil & Natural Gas Corp (ONGC) has offered 35,000 tons of naphtha for February 22-23 loading from Hazira, as per Reuters, in a tender that is due to be awarded on Jan. 29. Earlier, ONGC had cancelled to sell similar volumes also from Hazira for Feb. 18-19 loading as production at its Hazira complex was affected by a shortage of gas. India's monthly exports have been kept below 600,000 tons since November, compared with a monthly average of 660,000 tons for 2013. The reduced exports comes at a time when demand in the region is strong as petrochemical plants in Asia are mostly running at full capacity.