India’s Bharat Petroleum Corp Ltd (BPCL) has sold an October naphtha cargo at about $13 a tonne above Middle East quotes on a free-on-board (FOB) basis, 35 per cent lower than the average it had received for two September cargoes, traders said on Monday. <\/p>\n
The 35,000-tonne cargo scheduled for October 9-11 loading from Mumbai was sold to Japan’s Petro-Diamond late on Friday. <\/p>\n
This was BPCL’s second attempt to sell the October cargo after having cancelled a sale tender for the cargo which was initially scheduled for October 7-10 loading from the same port. <\/p>\n
India’s Mangalore Refinery Petrochemicals Ltd (MRPL), on the other hand, offered 35,000 tonnes of naphtha for October 20-22 loading from New Mangalore, its first offer of a medium-range tanker size cargo in more than 12 months as it has been selling larger-size cargoes of 50,000 to 55,000 tonnes. <\/p>\n
Traders said partial maintenance at MRPL’s 300,000-barrel- per-day (bpd) refinery, which started this month, has likely resulted in the smaller naphtha cargo size. <\/p>\n
The maintenance is expected to last for about a month. <\/p>\n
Availability of naphtha cargoes in Asia is expected to be tight in November following months of a supply glut which kept spot prices on a cost-and-freight (C&F) basis in discount levels. <\/p>\n
Since late last week, prices on a C&F basis in South Korea flipped to premiums for the first time in over two months<\/p>\n","protected":false},"excerpt":{"rendered":"
India’s Bharat Petroleum Corp Ltd (BPCL) has sold an October naphtha cargo at about $13 a tonne above Middle East quotes on a free-on-board (FOB) basis, 35 per cent lower than the average it had received for two September cargoes, traders said on Monday. The 35,000-tonne cargo scheduled for October 9-11 loading from Mumbai was sold to Japan’s Petro-Diamond late on Friday. This was BPCL’s second attempt to sell the October cargo after having cancelled a sale tender for the cargo which was initially scheduled for October 7-10 loading from the same port. India’s Mangalore Refinery Petrochemicals Ltd (MRPL), on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-33974","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/33974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=33974"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/33974\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=33974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=33974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=33974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}