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India's BPCL sells Oct-Dec naphtha at firmer premiums
August 21, 2012 / 7:07 AM / 5 years ago

India's BPCL sells Oct-Dec naphtha at firmer premiums

SINGAPORE, Aug 21 (Reuters) - India’s Bharat Petroleum Corp (BPCL) has sold naphtha cargoes for loading in the last quarter of the year at firmer premiums than earlier cargoes, traders said on Tuesday.

The company sold 35,000 tonnes of naphtha for Oct. 1-15 loading to Total at a premium of about $25 a tonne above Middle East quotes on a free-on-board (FOB) basis.

It also sold its November and December lots to Marubeni at premiums of $26.50 and $28.50 a tonne respectively, traders said.

All three cargoes are to be loaded from BPCL’s Mumbai port.

BPCL last sold a Aug. 28-30 loading naphtha cargo to Shell at a premium of $24-25 a tonne above Middle East quotes.

Expectations of tight supplies in October due to limited European cargoes arriving in Asia are supporting naphtha premiums, traders said. (Reporting by Jessica Jaganathan; Editing by Edwina Gibbs)

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