Itochu Petroleum has submitted the highest bid to import 170,000 barrels of heavy naphtha from state-run Bangladesh Petroleum Corporation for February 27-29, 2012 lifting, a senior BPC official said Tuesday.
Itochu's bid was a premium of $0.45/barrel to the Mean of Platts Singapore naphtha assessment for loading on an FOB basis from Chittagong, he said.
Four other firms -- Unipac Singapore, Vitol Asia, Trafigura and Glencore Singapore -- also submitted bids at the close of the deadline on January 30, 2012.
BPC exports naphtha from its subsidiary, the Eastern Refinery Ltd.
The 1.5 million mt/year refinery produces around 1.50 million barrels/year of naphtha.
BPC earlier sold a similar cargo to Itochu at a discount of $0.95/b to MOPS naphtha assessments for lifting over December 28-30, 2011, the official said.
