Adnoc, Bapco sell term naphtha for Jan-Dec 2012 supply

22 November 2011 07:38  [Source: ICIS news]

SINGAPORE (ICIS)--The Abu Dhabi National Oil Company (Adnoc) and Bahrain Petroleum Co (Bapco) have agreed separately to sell term naphtha supply for January to December next year, traders said on Tuesday.

The pentane naphtha grade was done at a premium of $18.50/tonne (€13.70/tonne) to Adnoc’s pricing formula FOB (free on board), while the low-sulphur naphtha was agreed at a premium of $17.50/tonne to Adnoc’s pricing formula FOB, they added.

The splitter naphtha was done at a premium of $17.00/tonne to Adnoc’s pricing formula FOB, traders said.

Bapco’s term naphtha supply, of the B210 grade, was done at a premium of $17.00/tonne to Middle East quotes FOB, they said.

Reflecting a bearish market, Asia’s naphtha intermonth spread between the first half of January and the first half of February contracts slid into the negative territory of minus 50 cents/tonne on Monday from parity on Friday, ICIS data showed.

Meanwhile, Saudi Aramco is expected to conduct term naphtha talks with customers in London next month, traders said.

For more on naphtha, visit ICIS chemical intelligence

By: Felicia Loo

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly