Bangladesh delays tender to sell 170,000 bbls naphtha

DHAKA, Dec 2 (Reuters) - State-owned Bangladesh Petroleum

Corporation (BPC) has delayed a tender to sell 170,000 barrels

of open-specification naphtha by two days, a company official

said on Sunday.

The tender will close on Dec. 20 instead of Dec. 18, with

validity up to Dec. 26 for lifting on Jan. 8 to 10 on a

free-on-board (FOB) basis from Chittagong.

The offer comes as naphtha sentiment is supported by

emerging demand from cracker operators in north east Asia that

are also looking to stock up on inventory ahead of the Lunar New

Year festivities in February 2013.

BPC, which runs the country's sole refinery, last sold a

similar cargo to Singapore-based MRI Trading for lifting over

Nov. 20-22 at premium of $0.50 a barrel to Singapore quotes, the

highest price since April, when a cargo sold at a two-year high

premium of $1.23 a barrel to Unipec.

(Reporting by Ruma Paul; Editing by Helen Massy-Beresford)

Source: http://news.yahoo.com/bangladesh-delays-tender-sell-170-000-bbls-naphtha-095836122--finance.html

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