February 9, 2015 / 7:36 AM / 3 years ago

Asia Naphtha-Bangladesh tenders to sell 170,000 bbls naphtha

DHAKA, Feb 9 (Reuters) - Bangladesh Petroleum Corp (BPC) has issued an international tender to sell 170,000 barrels of naphtha for March 11.13 loading from Chittagong, a company official said on Monday.

The tender will close on Feb. 18, with validity up to Feb. 26.

The offer came at a time when the Asian naphtha crack extended losses for a third straight day on Friday to reach its lowest since Jan. 30, dragged down by the stronger Brent crude price.

State-owned BPC sold a same-size cargo to Socar Trading at premiums of $3.29 a barrel to Singapore quotes for Nov. 27-29 loading, the lowest price in many years.

Apart from exporting, BPC sells naphtha domestically to privately owned Super Petrochemical.

State-owned Bangladesh Petroleum 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. (Reporting by Ruma Paul; Editing by Anand Basu)

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