Bid & Tender
Bharat Petroleum September Exports Highest in a Year

Date : Aug 28, 2015

India's Bharat Petroleum Corporation Ltd has sold two naphtha cargoes, bringing its total sales for next-month lifting to 140,000 tons, its highest monthly export volume since September 2014.

 

BPCL had late on Wednesday sold two 35,000-ton cargoes for Sept. 7-9 loading from Mumbai and Sept. 27-29 loading from Kochi to oil major BP at a premium of about $15 and $20 a ton to Middle East quotes on a free-on-board (FOB) basis respectively.

 

The state-owned refiner had previously sold two September cargoes of 35,000 tons each to Unipec and Marubeni. It was unclear what led to higher exports from BPCL, but naphtha sentiment among sellers has been weak due to off-peak gasoline demand and run cuts at crackers operated by Taiwan's Formosa, Asia's top naphtha importer.