HPCL sells 75-90KT naphtha to Itochu

SINGAPORE, Mar 8 (Reuters) Hindustan Petroleum Corp. Ltd. (HPCL) has awarded its naphtha export tender for three 25,000-to-30,000-tonne cargoes to Japanese trading house Itochu for April loading, a trading source said on Thursday.

But the refiner has cancelled one cargo offer for late March loading, the source said.

Though price details are not immediately available, loading details of the three cargoes sales are as follows: TONNE LOADING/PORT 25,000-30,000 April 1-3/Vizag 25,000-30,000 April 14-16/Vizag 25,000-30,000 April 28-30/Vizag HPCL last month sold via tender three 25,000-to-30,000-tonne cargoes for loading in April, May and June at the port of Vizag to Itochu, which also bought a cargo for March loading and three parcels for February from HPCL via spot tender.

Naphtha is the feedstock used to produce ethylene and propylene, the basic building blocks for the chemical sector.

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