Reliance unexpectedly postpones August naphtha loading

18-Jul-13

Reliance Industries has unexpectedly postponed the lifting dates of an unsold 55,000 ton naphtha cargo by a few days from its original dates of Aug. 8-12, as per sources in Reuters. Reliance was initially expected to sell the naphtha cargo by July 16, but the change in its loading dates have affected its negotiations. Though the reason for this is unclear, some traders opine that a possible brief power outage this week that may have affected Reliance's refineries operations.