ADNOC lowers premiums on long-term naphtha supplies

17-Feb-12

Abu Dhabi National Oil Co. (ADNOC) has lowered its offering price for long term naphtha supply for April 2012-March 2013, as per Bloomberg. ADNOC offered Pentane-Plus grade naphtha at a premium of US$25.50/ton above Middle East prices, down from US$27/ton last week, the people said, asking not to be identified because the terms are private. Low-sulfur naphtha was offered at a premium of US$23.50/ton, down from US$26/ton. Splitter-grade naphtha was offered at US$23.50, down from US$25/ton.