12 January 2010 08:19 [Source: ICIS news]
SINGAPORE (ICIS news)--State-run Abu Dhabi National Oil Company (Adnoc) plans to ramp up operations in February at its two condensate splitters at Ruwais to 100%, as more domestic condensate supply comes on stream, industry sources said on Tuesday.
At present, the splitters are operating at 65-70% of their capacity, sources said.
Each splitter has a nameplate capacity of 140,000 bbl/day.
"Adnoc will increase splitter-naphtha production from this year due to more condensates available," a source said.
The company is expected to have more condensate supply from February, sources said. No further details were immediately available.
Adnoc basically sells naphtha on a term basis, sources said.
The company has three types of term-naphtha contracts, which run at different periods: January-December, April-May and July-June, traders said.
Asia’s naphtha crack spread scaled up to $171.55/tonne (€118.37/tonne) against ICE Brent crude futures on Tuesday, the strongest level since 22 December 2009, because of a robust petrochemicals market, traders added.
($1 = €0.69)
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