Saudi Aramco offers naphtha for H2-2012 highest ever offers

22-May-12
Leading naphtha supplier to Asia- Saudi Aramco has offered naphtha supplies for H2-2012 at premiums of US$25-33/ton to its own price formula, making these the highest offers it has ever quoted, as per Reuters. Saudi Aramco is offering the following grades: A310 at US$33/metric ton (1.1 ton) premium, followed by A180 at US$31/metric ton premium, Jubail at US$29/metric ton premium and Rabigh/Jeddah naphtha at US$25/etric ton premium.The premiums are about 25-74% higher than what it had fetched for naphtha lifting in H2-2011. However, buyers have been disappointed with the asking price in a market with higher supplies ahead amid weakening demand due to weak petrochemical margins. Saudi Aramco will end its talks with buyers on Tuesday, cutting down from its usual one-week meeting. It is speculated that the Saudi major wants to seal the deals before the gloom deepens.
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