Adnoc cancels early Aug ethylene tender - sources

21 July 2010 10:11  [Source: ICIS news]

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

“They were working to sell from the new plant but it might not be stable yet,” said an olefins trader.

The tender had closed on 17-18 July and was expected to be awarded on a free on board (FOB) Ruwais basis. Adnoc officials were not immediately available for comment.

Adnoc and Austria-based Borealis jointly own Borouge, which recently started up a new 1.5m tonne/year ethane cracker in Ruwais in late June. The facility had 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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