Kuwait Petroleum Corp offers naphtha for October lifting

It is unlikely Kuwait Petroleum Corp’s delayed aromatics complex will start up next month as expected. 1.5 mln tpa of naphtha will be required a feedstock at the plant was to begin operations initially in April, then July, and later to September. The delay in start up is apparent by the fact that KPC has offered 50,000 tons of naphtha for mid-October lifting. KPC which was not a regular spot naphtha exporter, has continued its spot naphtha sales since April, as it requires an outlet to absorb the stocks meant for the delayed aromatics plant. The current hortfall of naphtha due to curtailed imports from Europe is being evened out by spot barrels from the Middle East.
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