Bangladesh Petroleum Corp (BPC) has issued an international tender to sell 170,000 barrels of naphtha for May 24-26 loading from Chittagong, a company official said on Tuesday.
The tender will close on May 5, with validity up to May 12.
The offer came after Asian naphtha crack fell to $99 a tonne on Monday, as expectations of high supplies coming to the east next month from Europe pushed it lower for the third straight session.
State-owned BPC sold a cargo of the same size to Unipec at premiums of $0.39 a barrel to Singapore quotes in February, the highest price since August amid a tight market in Asia.
Apart from exporting, BPC sells naphtha domestically to privately owned Super Petrochemical.
BPC is buying 700,000 tonnes of Murban crude from Abu Dhabi National Oil Co and another 600,000 tonnes of Arab Light from Saudi Aramco this year for its sole Eastern Refinery in Chittagong.
– AFP . Dhaka |
