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Egypts offers 175,000 tonnes of naphtha
Prices for the hydrocarbons mix is riding on volatility caused by uncertainty in crude prices and a weak economic outlook
Reuters Published in Ahram Online on 10 - 08 - 2011

State-owned Egyptian General Petroleum Corp (EGPC) offered a total of 175,000 tonnes of naphtha for October to December lifting from Suez, traders said on Wednesday.
This came about two months after it sold about 83 per cent of 1.02 million tonnes it offered for second-half of 2011 lifting.
EGPC has offered to sell a cargo for October lifting, two cargoes for November and two more for December in a tender closing early next week.
Each cargo size is at 35,000 tonnes.
Naphtha sentiment is riding on volatility caused by uncertainty in crude prices and a weak economic outlook.
Lack of information on when Asia's top naphtha buyer, Formosa, can restart its No. 1 cracker is also causing traders to take a wait-and-see stance, traders said.
Formosa was to restart its 700,000 tonnes-per-year (tpy) cracker in the first half of August after it was shut following a pipeline fire on 12 May.
But another outage at the end of July forced it to continue keeping the unit idle.

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