Kuwait Petroleum to hold Asia naphtha term talks in Singapore

10 February 2011 04:26  [Source: ICIS news]

SINGAPORE (ICIS)--Kuwait Petroleum Corp (KPC) will conduct naphtha term talks with customers from Asia in Singapore next week, traders said on Thursday.

The term supply, which consists of full-range and light naphtha, is for the period of April 2011–March 2012, they added.

“Buyers are definitely looking at low-teen premiums,” said one trader.

In its most recent term deal, KPC agreed to sell term naphtha for December 2010–November 2011 lifting at a premium of $12/tonne (€9/tonne) to Middle East quotes FOB (free on board) and light naphtha at a premium of $13/tonne to Middle East quotes FOB, traders said.

KPC’s August 2010–July 2011 naphtha term contract was settled at Middle East quotes FOB plus $21/tonne, according to the traders.

Meanwhile, the term premiums for its April 2010–March 2011 naphtha contract were at market quotes plus $22/tonne.

($1 = €0.73)

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By: Felicia Loo

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