22 June 2009 05:12 [Source: ICIS news]
The cargo was sold to Itochu at a premium of $15-16/tonne (€10.8-11.52/tonne) to ?xml:namespace>
KPC had sold a total 155,000 tonnes in May at premiums ranging between $9-17.50/tonne to
Sources said the large volume of May and June cargoes was due to the delayed start-up of its new aromatics plant at Shuaiba. The Kuwaiti refiner seldom offers supplies on a spot basis as most of its naphtha is sold to term customers.
The new aromatics plant in Shuaiba can produce 395,000 tonnes/year of benzene and 820,000 tonnes/year of paraxylene (PX). Souces said the units would be delayed to the third quarter of the year from the previously targeted June 2009.
($1 = €0.72)
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