Yemen's Aden Refinery has sold about 60,000-80,000 tons of naphtha to Glencore for August and September lifting. This is Aden’s first spot sales in at least nine months, as per Reuters. The volumes were broken down into two shipments, with the first shipment scheduled for H2-August loading and the second for Sept. 10-15 lifting. Each shipment comprises a combination of two naphtha grades: 15,000-20,000 tons of light naphtha plus another 15,000-20,000 tons of heavy naphtha. The premiums were not immediately clear, but traders estimated the price levels to be around US$25/ton above Middle East quotes on a free-on-board basis, sharply down vs a year ago when it sold a heavy naphtha grade cargo at about a US$40/ton premium.
Yemen’s Aden had halted operations for nine months because of attacks on the country’s main oil pipeline.
24-Aug-12 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}