INDIA: Reliance offers up to 960,000T 1-yr naphtha
India's Reliance Industries is offering up to 960,000 tonnes of naphtha for April 2009-March 2010 lifting from Sikka by tender, which closes on Feb. 27, traders said on Monday.
Bids will stay valid until March 5.
The Indian giant is looking to sell up to 80,000 tonnes of the feedstock every month for the stated 12-month period, and the offer came right after Abu Dhabu National Oil Co (ADNOC) had sealed its term contract for April-March at sharply higher premiums compared to its January-December 2009 prices.
Added: February 23, 2009 Source: Agencies