INDIA: ONGC offers 35,000 T for May

India's Oil and Natural Gas Corp (ONGC) is looking to sell 35,000 tonnes of naphtha for May 20-21 loading from Hazira, a tender document showed on Thursday.

The tender will close on April 22 and remain valid until the next day. ONGC has another outstanding export tender for a similar-volume cargo for May 7-8, to be loaded from the same port.

The refiner previously sold a late-April Hazira-loading cargo at a premium of $5.50-$6.00 to Middle East spot quotes, free-on-board (FOB) basis. With the latest offer, May-loading Indian naphtha supplies already sold or put on offer total up to 313,000 tonnes, compared to 411,000-413,000 tonnes for April.

Indian exports for the two months were below high levels of 1 million tonnes seen monthly until last November.

Source: Indian Economic Times

No comments: