September 24, 2012 / 6:46 AM / 5 years ago

Asia Naphtha-Indian Oil sells Chennai vol to PetroChina

SINGAPORE, Sept 24 (Reuters) - 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)

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