Kuwait Petroleum sells Dec ‘11-Nov ‘12 term naphtha supply

31 October 2011 08:52  [Source: ICIS news]

SINGAPORE (ICIS)--Kuwait Petroleum Corp (KPC) has agreed to sell term naphtha supplies for the period of December 2011-November 2012, traders said on Monday.

The term full-range naphtha was priced at a premium of $18.50/tonne (€13.14/tonne) to Middle East quotes FOB (free on board), while term light naphtha was priced at Middle East FOB plus $20.00/tonne.

KPC had offered the light naphtha grade at a premium of $25.50/tonne to Middle East quotes FOB, while the full range grade was being offered at Middle East quotes FOB plus $23.50/tonne.

However, the initial buying ideas of Asian end-users were much lower at premiums of $14.00/tonne in the face of squeezed margins and falling downstream petrochemical demand, traders said.

KPC agreed to sell term naphtha for December 2010–November 2011 lifting at a premium of $12/tonne to Middle East quotes FOB and light naphtha at a premium of $13/tonne to Middle East quotes FOB, traders said.

($1 = €0.71)

For more on naphtha, visit ICIS chemical intelligence


By: Felicia Loo



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