MOSCOW (MRC) -- India’s Mangalore Refinery and Petrochemicals Ltd naphtha sales premium has fallen to a more than one-year low as high supplies weighed, three traders who track the deals closely said, as per Reuters.
MRPL sold 35,000 tonnes for Oct. 7-9 loading from New Mangalore to Socar at around USD10 a tonne above Middle East quotes on a free-on-board (FOB) basis.
That was down from an average USD15 a tonne premium it had fetched for two cargoes sold for September loading. It was also the lowest premium MRPL has fetched since it sold cargoes for September 2017 loading.
As MRC wrote before, in August 2015, MRPL initiated its downward integration by amalgamation with ONGC Mangalore Petrochemicals Limited (OMPL).
Mangalore Refinery and Petrochemicals Limited (MRPL), is an oil refinery at Mangalore and is a subsidiary of ONGC, set up in 1993. The refinery is located at Katipalla, north from centre of Mangalore city. The refinery was established after displacing five villages of Bala, Kalavar, Kuthetoor, Katipalla, and Adyapadi.
MRC