Bangladesh tenders to sell 170,000 barrels of naphtha

Bangladesh Petroleum Corp (BPC) has issued an international tender to sell 170,000 barrels of naphtha for February 21-23 loading from Chittagong, a company official said on Monday. The tender will close on February 8, with validity up to February 15.
The tender comes as Asia's naphtha crack hovers around a three-month low - standing at $89.83 a tonne on Monday - with a stubborn glut weighing heavily on seller sentiment.
State-owned BPC last sold a cargo of the same size to Swiss Singapore Overseas Enterprises at a discount of 10 cents to Singapore quotes in June.
Bangladesh's sole Eastern Refinery, which has a capacity of 33,000 barrels per day, produces 1.26 million barrels of naphtha a year.
The BPC will buy 600,000 tonnes of Murban crude from Abu Dhabi National Oil Co and another 600,000 tonnes of Arab Light from Saudi Aramco this year for the refinery.