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)