UAE’s Adnoc seals term naphtha supply deals

06 December 2013 08:07 Source:ICIS News

SINGAPORE (ICIS)--The Abu Dhabi National Oil Company (Adnoc) has agreed with buyers over term naphtha supply for February 2014-January 2015, traders said on Friday.

The deal for the pentane naphtha grade was done at a premium of $32/tonne (€23/tonne) to Adnoc’s pricing formula FOB (free on board), which was down by $1/tonne from Adnoc’s initial offering, they said.

The deals for the low-sulphur naphtha and the splitter naphtha were agreed at a premium of $30/tonne to Adnoc’s pricing formula FOB, down also by $1 from Adnoc’s initial offering, the traders said.

($1 = €0.73)

By Felicia Loo