Kuwait Petroleum offers 24,000t light naphtha for early August

06 July 2010 04:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Kuwait Petroleum Corp (KPC) has tendered to sell 24,000 tonnes of light naphtha for loading on 1–2 August, traders said on Tuesday.

The tender would close later on Tuesday, they said.

In its last tender, KPC sold 50,000 tonnes of full-range naphtha and 24,000 tonnes of light naphtha for loading on 13-20 July, at a premium of around $9/tonne (€7.20/tonne) to Middle East quotes FOB (free on board).

Asian naphtha contracts for the second half of August dropped by $7.50-8.50/tonne from Monday to $609.00-612.00/tonne CFR (cost & freight) Japan by midday Tuesday, ICIS data showed.

($1 = €0.80)

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By: Felicia Loo

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