Abu Dhabi National Oil Co (ADNOC) has quoted offers for its naphtha lifting in January-December 2015 at US$9-10/ton premium to its own price formula on a free-on-board (FOB) basis, as per traders in Reuters. Offers for the 12-month contract are down by about 70% when compared to a February 2014-January 2015 term concluded at US$30-32/ton premium. ADNOC's fresh offers are for three naphtha grades, namely low-sulphur and splitter offered at US$9/ton premium each, and pentane which is offered at US$10.
Abundant supplies have brought down prices as Asia continues receiving massive supplies from Europe and the Mediterranean since September.
09-Dec-14 
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