April 25, 2017 / 8:05 AM / in 7 months

Bangladesh naphtha tender gets best offer from Vitol

DHAKA, April 25 (Reuters) - State-owned Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Vitol at a discount of 79 U.S. cents to Singapore quotes, from a discount of 17 cents when it sold a similar-sized cargo to the oil trading giant in February.

Vitol quoted the best price among four companies competing in the tender for the cargo, scheduled to load over May 11-13 on a free-on-board (FOB) basis from Chittagong, a senior BPC official said on Tuesday.

Bangladesh’s sole Eastern Refinery, with a capacity of 33,000 barrels per day, produces 1.26 million barrels of naphtha a year.

BPC imports 600,000 tonnes of Murban crude from Abu Dhabi National Oil Co and another 600,000 tonnes of Arab Light from Saudi Aramco annually for the refinery.

Reporting by Ruma Paul; Editing by Biju Dwarakanath

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