BPC selling tender papers till Feb 17

The state-owned Bangladesh Petroleum Corporation (BPC) is now selling tender documents for exporting 170,000 barrels of heavy naphtha for early March loading. BPC will be selling tender documents until February 17, a senior official said.

The bid submission deadline is February 18 having validity until February 26, and supply loading would be on March 11-13 from Chittagong Port on free-on-board (FOB) basis.

Eastern Refinery Ltd, a wholly-owned subsidiary of BPC and with 1.5 million tonnes per year (30,000 b/d) capacity, produces naphtha for export after crude refining.

BPC last sold an identical volume of naphtha to Socar Trading for loading from Chittagong on November 27-29 loading at a discount of $3.29 per barrel to Mean of Platts Singapore naphtha assessments, after a re-tender over lower pricing.

BPC had rejected the best bid from MRI Trading for naphtha sale for early November loading, citing less than expected price and hence re-tendered.

MRI had offered a discount of $3.33 per barrel to MOPS naphtha assessments, FOB, which was the highest of five other bids, submitted to the tender process that was cancelled.

    azizjst@yahoo.com