Adnoc issues tender for early-August ethylene cargo - sources

15 July 2010 11:34  [Source: ICIS news]

SINGAPORE (ICIS news)--Abu Dhabi National Oil Co (Adnoc) has issued a tender to sell a 4,500-tonne ethylene cargo for early-August loading, market sources said on Thursday.

The tender would close on 17-18 July and was expected to be awarded on a free on board (FOB) Ruwais basis, they said. 

Adnoc officials were not available for comment.

The company had earlier sold two 4,500-tonne cargoes via tender to a Japan-based trader for mid- and late-July loading, but pricing details were not known, sources said.

Adnoc and Austria-based Borealis jointly own Borouge, which runs a 1.5m tonne/year ethane cracker in Ruwais. The facility was started up in late June and achieved commercial operation in the first half of July.

Borouge also operates an existing 600,000 tonne/year ethane cracker at the same site.

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By: Peh Soo Hwee
+65 6780 4359



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