July 14, 2017 / 7:55 AM / 3 months ago

BUZZ-India's MRPL naphtha sales premium at over 5-mth low

** India’s Mangalore Refinery & Petrochemicals Ltd (MRPL) gets sharply lower premiums for a naphtha cargo as heavy supplies weigh

** MRPL sells 35,000 tonnes of naphtha for Aug. 7-9 loading from New Mangalore at about $3.50 a tonne above Middle East quotes on a free-on-board (FOB) basis

** The premium is lower than an average of $11.50 a tonne it had received for three cargoes sold for July loading from the same port

** It is also the lowest premium MRPL has received since it sold a cargo for Feb 5-7 loading from New Mangalore (Reporting by Seng Li Peng)

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