Kuwait’s naphtha contract sales to Asia likely at double the premium than Dec-Nov 2011

20-Oct-11

Kuwait Petroleum Corp. offered to sell naphtha cargoes to Asia from December 2011-November 2012 at almost double the premium of supplies for December 2010-November 2011, as per Bloomberg. KPC is offering Full-Range naphtha at US$23.50/mt above benchmark prices, as per confidential sources vs US$12/ton over quotes for December 2010-November 2011, as well as US$18.50/ton premium for shipments from August 2011-July 2012.