Oil & Natural Gas Corp (ONGC) has sold 34,500 tons of naphtha for Aug. 27-28 loading from Hazira to oil major Shell at a discount of approximately US$5/ton to Middle East quotes on a free-on-board (FOB) basis. As reported by Reuters, this reflects a sharp drop from the US$5/ton premium ONGC fetches for an Aug. 12-13 Hazira cargo. This is the lowest price garnered for a Hazira cargo since August 2010.
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