SINGAPORE, Sept 24 Indian Oil Corporation Ltd (IOC) has sold a naphtha cargo out of Chennai for the first time in four months, traders said on Monday.
The 35,000-tonne cargo, scheduled for Oct. 15-17 loading, was sold late on Friday to PetroChina at premiums of nearly $39 a tonne to its own formula on a free-on-board (FOB) basis.
IOC had previously sold a June 4-6 cargo from Chennai, also to PetroChina, at premiums of about $43.50.
IOC is the parent company of Chennai Petroleum which had scheduled a maintenance at its 190,000 barrels per day (bpd) Manali plant from July to end September. (Reporting by Seng Li Peng; Editing by Daniel Magnowski)