Tasweeq sells May loading naphtha cargo at steep premiums

27-Apr-12
Qatar's Tasweeq sold 20,000 tons of full-range naphtha for May 21-22 loading to PetroChina at steep premiums of US$40/ton to Middle East quotes on a free-on-board (FOB) basis, as per Reuters. It is possible that the cargo gets co-loaded with other naphtha held by PetroChina to help maximise freight costs. In a previous deal, Tasweeq sold 80,000 tons of a lighter grade of naphtha and gas-to-liquid naphtha to YNCC at less than US$37/ton. Naphtha supplies for May have been tight because of delays in shipments caused by refinery outages.
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