Vitol buys 70,000 tons December naphtha from ONGC, MPRL

23-Nov-10

Western trader Vitol has bought 70,000 tons of December naphtha from Oil & Natural Gas Corp (ONGC) and its subsidiary MRPL, as per Reuters. US$14-14.50/ton was paid by Vitol to Middle East quotes on a free-on-board (FOB) basis for 35,000 tons procured from ONGC for Dec. 8-9 loading from Hazira. Around US$19/ton was paid for another 35,000 tons from MRPL for Dec. 28-30 loading from New Mangalore. With this, Vitol's total purchases of Indian parcels scheduled for December from ONGC, MRPL, Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL) has ramped up to 130,000 tons, accounting to about 55% of the total sales from the refiners so far.