India’s biggest energy exploration company, Oil and Natural Gas Corporation (ONGC) has reportedly restarted exports from Hazira port and sold a cargo to China’s Unipec. The company has sold the 35,000-tonne cargo for March 25-26 loading to the Chinese trading firm at premiums of about $46.00 a tonne to Middle East quotes on a free-on-board (FOB) basis. This came shortly after it sold similar volumes, also to Unipec, but with the cargo lifting from Mumbai terminal at record premiums of $59.50 a tonne.
Generally, the company exports 1-3 naphtha cargoes a month through the Hazira terminal and another 1-3 parcels a month via Mumbai port, but maintenance works at the port had affected exports. The port was shut down for a month for maintenance.
