Reliance skips naphtha exports for the first time in over 18 months

Reliance Industries has decided not to export spot naphtha in July for the first time in more than 18 months, as per Reuters. This will bring down India's overall naphtha exports by over 30% to 580,000 tons for the month. The move comes at a time of limited European cargoes to Asia. RIL is likely to have channelled the naphtha feedstock into its gasoline pool or its own naphtha crackers, Traders expect Reliance to resume exports in August.
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