ADNOC offers 75,000t naphtha tender for 10–12 Aug

22 June 2010 10:19  [Source: ICIS news]

SINGAPORE (ICIS news)--Abu Dhabi National Oil Co (ADNOC) has issued a tender to sell 75,000 tonnes of naphtha from Ruwais for loading on 10–12 August, traders said on Tuesday.

The tender closes on 25 June, the traders added.

“There will more barrels from the Middle East,” a trader said referring to rising supplies from the Middle East due to new capacities.

Asian naphtha flipped into a contango of $1.00/tonne (€0.81/tonne) for the period between the first half of August and the first half of September, in the face of ample supply and weak demand, according to data from ICIS.

($1 = €0.81)

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By: Felicia Loo

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