Kuwait’s KPC sells term naphtha supply for April 2014-March 2015

11 February 2014 04:07 Source:ICIS News

SINGAPORE (ICIS)-- Kuwaiti national oil company Kuwait Petroleum Corp (KPC) has agreed to sell term full-range naphtha supply for loading from April 2014 to March 2015, traders said on Tuesday.

The term deal for the full-range naphtha supply was done at a premium of $32-33/tonne to Middle East quotes FOB (free on board), they added.

However, not all buyers agreed to the premiums, with some of them still countering the term price, the traders said.

KPC had wanted to sell the term supply at premiums in the mid-$30/tonne levels to Middle East quotes FOB, while the buyers sought premium levels in the high $20s/tonne.

By Felicia Loo