SINGAPORE: Asia's naphtha crack edged up to a two-session high on Thursday as strong demand and an easing in excess supplies offset higher Brent crude prices.
- Taiwan's Formosa, Asia's top naphtha importer, was seeking naphtha through a tender due to be awarded on Aug. 11.
- This came shortly after South Korea and Japan had picked up September cargoes through private negotiations and tenders.
* NAPHTHA TENDERS: India's HPCL sold 15,000 tonnes of naphtha last week for Aug. 14-17 loading from Mumbai to Trafigura at a discount of about $3 a tonne to Middle East quotes on a free-on-board basis.
* GASOLINE TENDERS: Vietnam's Petrolimex is seeking a total of 75,000 tonnes of gasoline for September lifting from either South Korea, Singapore, Thailand, Malaysia or Van Phong Terminal through a tender closing on Aug. 12.
- The cargoes comprise 30,000 tonnes of 92-octane grade for Sept. 1-3 lifting, another 30,000 tonnes of 92-octane grade for Sept. 11-15 loading and 15,000 tonnes of 95-octane grade for Sept 10-14 loading.
- Thai Ol has offered 24,000 tonnes of 92-octane grade gasoline to be co-loaded with 1,000 tonnes of light naphtha for Sept. 16-20 loading through a tender closing on Aug. 11.
- Indonesia's Pertamina, Asia's top gasoline importer, is seeking 100,000 barrels of 88-octane grade gasoline for either Aug. 23-25 loading from Singapore/Malaysia or Aug. 29-31 arrival at Teluk Kabung through a tender which will stay valid until Aug. 14.
CASH DEALS: Gasoline and naphtha cash deals were absent.
OTHER NEWS: GS Caltex said it has shut a heavy oil upgrading unit, which converts fuel oil into lighter products such as gasoline, after a fire on Thursday.
- A week ago GS Caltex shut its No.2 Aromatics plant after a fire occurred at an electrical substation in the refinery.
- Australia's antitrust regulator said on Thursday it was concerned BP's plan to buy the petrol stations of grocery giant Woolworths Ltd would hurt competition.
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