Abu Dhabi National Oil Co. (ADNOC) has lowered its offers for naphtha supplies delivered to Asia for April2011-March 2012, as per Bloomberg. Splitter naphtha is being offered at a premium of US$17.50/ton to Middle East naphtha prices, down from US$19 on Feb. 14. Premium for Low- Sulfur grade was reduced to US$18.50/ton from US$20, while Pentane-Plus naphtha dropped to US$20/ton from US$21. Kuwait Petroleum Corp. has also cut its offer for Full- Range naphtha supplies to Asia, according to two traders directly involved in the talks. The company offered to sell a year’s supply of naphtha starting April at a premium of US$18.50/ton, down from US$21/ton on Feb. 16.
22-Feb-11 
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