Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Swiss Singapore Overseas Enterprises at a discount of 10 cents to Singapore quotes, slightly up from the last sale.
The trading company, which entered Bangladesh’s naphtha market for the first time, quoted the best price among eight firms competing in the tender for the cargo, lifting over June 24-26 on a free-on-board (FOB) basis from Chittagong, a company official said on Tuesday.
Asia’s naphtha crack eased to $104.38 a tonne on Monday with limited spot trades after healthy demand in the previous week for second-half July cargoes.
State-owned BPC has previously sold a cargo of the same size to Unipec at a discount of $0.22 a barrel to Singapore quotes in May.
It 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, up more than 8 percent from a year ago.
-Reuters
