BPC to export 0.17m barrels naphtha next month

Dhaka,  Thu,  24 August 2017
Published : 22 Nov 2016, 21:39:58

BPC to export 0.17m barrels naphtha next month

Corporation invites tender
FE Report

State-run Bangladesh Petroleum Corporation (BPC) will export 170,000 barrels of naphtha again in December to international buyers as local demand has outpaced supply, officials said.

"We have invited international tender to export around 170,000 barrels of heavy naphtha from Chittagong port," a senior BPC official said.

The BPC will ship the naphtha on free on board (FOB) basis from the Chittagong port meaning that the importers would have to get the naphtha delivered from the port.

The state-run corporation would not have any responsibility for transporting naphtha to the buyers' end, he said.

The BPC usually gets naphtha as a by-product from Eastern Refinery Ltd, which is one of its several wholly-owned subsidiary companies, and sell to different privately-owned petrochemical companies.

But due to lower domestic demand, the state-run corporation has to export naphtha, said the official.

The bid submission deadline is December 6 having the offer validity until December 13.

The delivery of naphtha to the bid winner will take place on December 22-24 from Chittagong.

The BPC last awarded a similar-sized parcel of the naphtha for delivery over November 17-19 to Swiss Singapore Overseas Enterprises Pte Ltd on FOB basis from Chittagong.

Swiss Singapore had offered discount of US$0.89 a barrel to the Mean of Platts Singapore (MOPS) naphtha assessment meaning the price was below that of international market by US$0.89 a barrel.

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