March 28, 2017 / 5:01 AM / 6 months ago

BUZZ-India's HMEL offers naphtha after long absence

** India’s HPCL-Mittal Energy Ltd (HMEL) offers 18,000 tonnes of naphtha for April 17-19 loading from Mumbai in its first tender seen this year, traders say

** It is not clear why HMEL made the offer but the refiner has a one-month long maintenance at the 180,000-barrel-per-day Bathinda refinery from end-April

** Traders add that the HMEL cargo is not for naphtha crackers due to the high olefins content but suitable as a gasoline blending component

** HMEL was last seen making a spot naphtha offer for August loading last year, Reuters data shows (Reuters Messaging: lipeng.seng.thomsonreuters.com@reuters.net)

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