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Bangladesh offers to sell 170,000 bbls naphtha
May 30, 2012 / 6:12 AM / 6 years ago

Bangladesh offers to sell 170,000 bbls naphtha

DHAKA, May 30 (Reuters) - State-owned Bangladesh Petroleum Corporation (BPC) has issued a tender to sell 170,000 barrels of open-specification naphtha lifing for July 14-16, a company official said on Wednesday.

The tender will close on June 26, with validity up to July 2 for loading on a free-on-board (FOB) basis from Chittagong.

The offer comes at a time of weak fundamentals due to poor end-user demand and an increase in refinery output.

BPC, which runs the country’s sole refinery, previously sold a similar cargo to Singapore’s Unipec for lifting over April 10-12 at a premium of $1.23 a barrel to Singapore spot quotes, the highest since January 2010. (Reporting by Ruma Paul; Editing by Anand Basu)

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