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Indian Oil sells naphtha from Paradip refinery for first time since May '17

IOC this year stopped exporting naphtha from Paradip, which can process 300,000 barrels per day (bpd) of crude, as it was using the fuel as feedstock for gasoline production

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Indian Oil  |  Indian Oil Refiners  |  Paradip Refinery

Reuters  |  Singapore 

Indian Oil Corp (IOC) sold a naphtha cargo from its Paradip refinery this week, four traders that participate in the market said on Friday, in what was likely the first sale since May 2017. IOC sold up to 30,000 tonnes of naphtha on late Thursday in two separate cargoes for second-half August loading from Paradip to a trading house at discounts of about $14 a tonne to its own price formula on a free-on-board (FOB) basis, the traders said. IOC this year stopped exporting naphtha from Paradip, which can process 300,000 barrels per day (bpd) of crude, as it was using the fuel as ...

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First Published: Fri, August 03 2018. 15:43 IST
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