Unipec bids best price for BPC\\\'s naphtha

Unipec Singapore Ltd has offered the best bid to import 170,000 barrels of heavy naphtha from state-run Bangladesh petroleum Corporation (BPC), a senior BPC official told the FE Monday.
He said the BPC is set to award its March loading cargo of heavy naphtha to Unipec as the trader submitted the most competitive bid at a premium of US$0.39 per barrel to the Mean of Platts Singapore (MOPS) naphtha assessments.
Unipec's bid was the highest of five other bids submitted into the tender process on close of deadline last week.
The 170,000 barrel naphtha parcel is for loading from Chittagong, over March 11-13 from Chittagong port on FOB, basis.
The tender closed on February 18 and bids are to remain valid until February 26.
Among other bidders MRI offered a discount of $0.75 per barrel to MOPS naphtha assessments, Trafigura a discount of $0.95 per barrel, Itochu a discount of $2.25 per barrel, and Vitol Asia a discount of $5.13 per barrel to MOPS naphtha assessments.
The BPC official said Monday that the tender will be awarded to Unipec Singapore subject to an approval from board directors at a meeting to be held by this week.
BPC last sold an identical volume of naphtha to Socar Trading for loading from Chittagong over November 27-29 last year loading at a discount of $3.29 per barrel to MOPS naphtha assessments, after a re-tender over lower pricing.
Eastern Refinery Ltd, a wholly owned subsidiary of BPC having the capacity of 1.5 million tonne per year supplies naphtha regularly after refining crude oil for export.
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