ADNOC anticipates lower premiums for Jan-Dec naphtha

29-Sep-09
Added volumes of exports from India in September, continuous spot exports from Kuwait and unusual spot exports for October lifting from China's WEPEC and Saudi Aramco have eased naphtha supplies in Asia. As supply constraints ease along with a demand drop in the region, Abu Dhabi National Oil Co (ADNOC) is expecting lower premiums for its next naphtha offering. ADNOC is to hold term for naphtha lifting in January-December 2010. Premiums could lower to single digits for the 12-month supplies, as compared to the US$10.50-12.50/ton premium to its own price formula, on a free-on-board (FOB) basis, for July 2009-June 2010 cargoes. ADNOC is expected to have an additional 1.3 mln tpa of naphtha from a new condensate splitter in Ruwais that comes online from next year. ADNOC’s dealing is to follow Kuwait's term talks for supplies lifting during December 2009-November 2010. Fresh naphtha supplies from Qatar will start from next month to the tune of 200,000 tons per month as its new condensate splitter comes online. Crack spreads (premiums/losses from refining Brent crude into naphtha) fell to a 4 week low of US$92.1/ton premium, as compared to a seven-month high on Sept. 3 of US$125.5/ton.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha