Reduced naphtha exports from ADNOC adds to Asia’s supply woes

A surprise move by Abu Dhabi National Oil Co (ADNOC) to reduce splitter naphtha export volumes for January-February lifting by around 10% has added to Asia’s supply woes. This reduction is the result of lower condensate splitter runs at ADNOC; at a time of disruptions to supplies from other Middle Eastern producers. In some cases, cargoes have been deferred to a later date, but within the same month ADNOC supplies around 4 mln tpa of splitter naphtha and a total of about 2.6 mln tons of low-sulphur and paraffinic grade. It has the option to provide 5% more or less, of the contracted volumes with Asian buyers, depending on market fundamentals. Adnoc is set to have an additional 1.2 mln tpa of splitter naphtha after it completes the expansion at its gas field
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