August 30, 2017 / 8:47 AM / 3 months ago

BUZZ-India's ONGC cancels Hazira naphtha

** India’s Oil & Natural Gas Corp (ONGC) cancels tender to sell 30,000 tonnes of naphtha for Sept. 9-10 loading from Hazira unexpectedly, trade sources say

** The reasons behind the cancellation are not clear

** ONGC could not be reached for comments

** The cancellation comes at a time when naphtha fundamentals are strong

** The hurricane season in the U.S. creates concerns over supplies for Asian buyers

** Europe, a naphtha supplier to Asia, could divert its cargoes to Latin America which regularly buys from the U.S.

Reporting by Seng Li Peng

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below