Qatar’s Tasweeq floats tender to sell Oct 12-Sep 13 term naphtha

03 August 2012 07:26  [Source: ICIS news]

SINGAPORE (ICIS)--Qatar International Petroleum Marketing (Tasweeq) has floated a tender late on Thursday to sell one-year term supplies of plant condensate and full-range naphtha for October 2012 to September 2013, traders said on Friday.

For each grade, 360,000-600,000 tonnes of material will be offered, out of which one cargo of 30,000 tonnes or 50,000 tonnes will be lifted by the buyer from the Ras Laffan port each month, the traders said.

The one-year term contract will be priced on a naphtha FOB (free on board) Middle East quotes basis, they said.

Besides the above pricing method, buyers are also allowed to submit their bids on a CIF (cost, insurance and freight), CFR (cost & freight) or DES (delivered ex-ship) basis, the traders said.

For the DES term, a port of destination has to be defined, the traders added.

Submission of bids will close on 13 August by 13:00 hours Doha time (10:00 GMT) and the bids will be valid until 13:00 hours Doha time on 16 August, they said.

In early June, Tasweeq closed a one-year term supply for July 2012 to June 2013 for both full-range naphtha and plant condensate at a premium of $25-26/tonne (€20.50-21.30/tonne) to Middle East quotes FOB.

($1 = €0.82)

By: Ong Sheau Ling
+65 6780 4359

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