June 22, 2017 / 9:33 AM / 3 months ago

BUZZ-Malaysia's Hengyuan sells light naphtha to oil major

** Malaysia-based Hengyuan seals first deal to sell light naphtha after acquiring a stake in Shell Refining Company, people familiar with the matter say

** Hengyuan, a unit of China’s Shandong Hengyuan Petrochemical Company, sold up to 48,000 tonnes of naphtha for Aug 1 to Dec 31 loading to an oil major at about $15 a tonne below Japan quotes on a free-on-board (FOB) basis

** The naphtha has a 65 to 70 percent paraffin content and is expected to be used as a gasoline blendstock, the sources add

** Hengyuan acquired 51 percent stake in Shell Refining Company (Reporting by Seng Li Peng)

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