BPCL sells 135 KT term naphtha; premium higher

Singapore, Apr 9: Bharat Petroleum Corp. Ltd. (BPCL) awarded a term tender to export 1,35,000 tonnes of low-aromatic naphtha to Japanese trading house Idemitsu at a higher premium than its last sale, traders said on Monday.

BPCL sold the five 27,000-tonne lots at more than a tonne to Middle East spot quotes, on a free-on-board (FOB) basis, for loading between June 2007 and March 2008 from Kochi, one India-based trader said.

But it cancelled another tender to export 150,000 tonnes of low-aromatic naphtha for loading between June of this year and March of next year from Mumbai due to low bids, traders said.

Reuters