HPCL awards three naphtha cargoes to Itochu

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HPCL awards three naphtha cargoes to Itochu
14 Dec, 2007, 2052 hrs IST, PTI

NEW DELHI: India’s state-run Hindustan Petroleum Corp has sold three naphtha cargoes for February to April lifting at a premium of slightly higher than $15.5 a tonne to Middle East spot quotes, a trade source said on Friday.

The three 30,000-tonne cargoes have been awarded to the Japanese trading house Itochu, the source, who did not wish to be identified, said.

Other than the term contract, HPCL has also awarded Itochu a 25,000-30,000 tonnes cargo of naphtha for loading in the first half of January at a premium of around $12.5 a tonne, he said.

Another HPCL cargo for loading in the second half of January was awarded to Glecore at a higher premium of $18-$19 per tonne, the source said. All the cargoes are scheduled for loading from Vizag port in the east coast.

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