Adnoc to hold term discussion for July 15-June 16 naphtha

The UAE's Abu Dhabi National Oil Co will hold term discussions with customers for its July 2015 to June 2016 naphtha cycle in the week starting April 13 in Singapore, as per market participants in Platts. Adnoc offers three naphtha grades -- low sulfur, paraffinic and splitter -- which are priced on an an Adnoc formula which takes the average of FOB Arab Gulf naphtha assessments by Platts and Petroleum Argus. Currenty, the Asian naphtha market is very bullish. Term naphtha typically tends to aim for higher premiums during periods of firm market sentiment.