Asia-Naphtha-India ONGC sells Sept to Petro-Diamond
SINGAPORE, Aug 28 (Reuters) - India's Oil & Natural Gas Corp (ONGC) reissued a tender to sell 35,000 tonnes of naphtha for lifting from Hazira, but sold the same volume from Mumbai to Petro-Diamond at a range-bound premium.
The company sold the parcel for Sept. 22-23 lifting from Mumbai to the trader at a premium of $15.00-$15.50 a tonne on a free-on-board (FOB) basis, which was almost the same as the premium it fetched for an August cargo.
It earlier sold 35,000 tonnes of naphtha to Sempra for Aug. 29-30 loading from Mumbai.
This brought Indian exports for September -- concluded via tenders -- to around 455,000 tonnes, sharply down from this year's peak in June at around 660,000 tonnes. But the export programme for September is not yet over.
The export volume sealed through tenders and private negotiations were at its highest this year in July at around 800,000 tonnes.
However, September and October Indian exports are expected to cap at 700,000 tonnes each month because of refinery maintenance at Indian Oil Corp's Panipat and Koyali facilities. [ID:nSP311477].
ONGC also reissued a tender to sell 35,000 tonnes of naphtha for Sept. 15-16 loading from Hazira, after cancelling it on Thursday. (Reporting by Seng Li Peng; Editing by Ramthan Hussain)
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