SINGAPORE: Egyptian General Petroleum Corp (EGPC) has offered 95,000 tonnes of May spot naphtha, and this came less than three weeks after the irregular spot seller sold 60,000 tonnes for April loading, traders said on Friday.
It was not seen in the spot market for naphtha lifting in first quarter from Suez.
EGPC has offered 35,000 tonnes for May 3-5 loading from Suez, and similar volumes for May 26-28 loading from the same port in a tender that closes on April 18, with bids to stay valid until April 22.
It also offered 25,000 tonnes for late May lifting from Alexandria in a tender which closes on April 28, with bids to stay valid until April 22.
"The unrest in Egypt may have hampered local demand," said a Singapore-based trader, explaining the recent April spot sales, and current May offers.
EGPC in December sealed term deals to sell a total of 525,000 tonnes of naphtha lifting from Suez from January-June with Total, Vitol and ConocoPhillips.
EGPC had recently sold 25,000 tonnes to BP, and another 35,000 tonnes to Noble for April lifting from Suez.
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