SINGAPORE: Bharat Petroleum Corp Ltd(BPCL) is seeking a July reformate cargo, shortly after it bought a June gasoline cargo, its first purchase this year to plug a supply gap caused by plant outages and demand, traders said on Tuesday.
BPCLBSE 0.58 % is looking to import 10,000 tonnes of reformate for July 8-12 arrival at the Mumbai port through a tender closing on June 10. Offers are to stay valid until June 12.
The company had in end May bought its first gasoline cargo this year following a supply crunch caused by summer holiday demand coinciding with an outage in HPCL's Vizag plant and ongoing maintenance at refineries operated by MRPL
and IOCBSE 0.41 %. BPCL itself has also suffered a setback after a fire hit its Numaligarh refinery in northeastern India.
On the other hand it is looking to export 35,000 tonnes of low aromatic naphtha for July 5-8 loading from Kochi and 38,000 tonnes of similar grade for July 13-15 lifting from Mumbai through a tender closing on June 10.
Bids are to stay valid until June 11. Traders are now hoping that the weak naphtha market will get a boost from the strong gasoline market as naphtha can be reformed into gasoline or be used as a gasoline blendstock.
