UAE's Adnoc offers term naphtha supply for May '14-April '15

10 March 2014 10:33 Source:ICIS News

SINGAPORE (ICIS)--The Abu Dhabi National Oil Co (Adnoc) is offering term naphtha supply for loading from May 2014 to April 2015, traders said on Monday.

The term selling price of the pentane naphtha grade was at a premium of $32/tonne to Adnoc's pricing formula FOB (free on board), while the offer for the splitter naphtha was at a premium of $30/tonne, they said.

Adnoc also offered low-sulphur naphtha at a premium of $30/tonne to its pricing formula FOB, traders said.

The would-be buyers and Adnoc are still in talks over the term supply.

In an earlier term deal, Adnoc had agreed with buyers over naphtha supply for February 2014-January 2015.

The deal for the pentane naphtha grade was done at a premium of $32/tonne to Adnoc's pricing formula FOB, which was down by $1/tonne from Adnoc's initial offering.

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/tonne from Adnoc's initial offering.

By Felicia Loo