MRPL offers 30KT each for Jan/Feb loading

SINGAPORE, Jan 5 (Reuters) Mangalore Refinery and Petrochemicals Ltd. (MRPL) has issued a tender to sell two 30,000-tonne cargoes of naphtha, each for late January and early February loading, a tender document said on Friday.

The offer will help lift India's total naphtha export volumes for January loading to around 400,000 tonnes. But it is still far below India's average export volumes of 500,000-600,000 tonnes a month.

For February, Indian refiners have so far offered below 200,000 tonnes, including the latest offer from MRPL.

The smaller exports by refiners have provided support to Asia's naphtha premium against Brent crude, which had hit a six-month high of more than 5 a tonne in end-December.

MRPL's naphtha tender will close on Jan. 10 with the validity until Jan. 11. Loading for each cargo is set for Jan. 28-30 and Feb.

4-6, both from the port of New Mangalore on the Indian west coast, the document said.

MRPL last month sold 30,000 tonnes of naphtha to South Korea's SK Corp., at a premium of around a tonne to Middle East spot quotes, on a free-on-board (FOB) basis, for Jan. 17-19 loading from New Mangalore.

REUTERS CS SSC1350