Kuwait’s KPC sells 125,000 tonnes spot naphtha for Sept loading

22 August 2013 09:46 Source:ICIS News

naphtha crackerSINGAPORE (ICIS)--State-owned oil company Kuwait Petroleum Corp (KPC) has sold 125,000 tonnes of spot naphtha for loading in September, traders said on Thursday.

Trading firm Vitol bought 75,000 tonnes of light naphtha and full-range naphtha at premiums of around $23/tonne (€17.25/tonne) to Middle East quotes FOB (free on board), traders said.

Japanese trading house ITOCHU purchased 50,000 tonnes of full-range naphtha at Middle East quotes FOB pricing plus $20/tonne, they added.

The loading dates for the light naphtha are on 14-15 September, while the full-range naphtha supplies will be loaded on 16-21 September, traders said.

Previously, KPC sold 25,000 tonnes of full-range naphtha and 24,000 tonnes of light naphtha in the spot market to Anglo-Dutch oil major Shell.

The deal for the cargoes was done at a premium of around $28/tonne to Middle East FOB quotes.

The loading dates for the full-range naphtha are on 23-24 August, while the light naphtha cargo is scheduled for loading on 27-28 August.

($1 = €0.75)

By Felicia Loo