State-run Kuwait Petroleum Corp. (KPC) has set the term premium for August 2006-July 2007 naphtha supplies at a higher premium than its last term contract, reflecting strong demand for heavy naphtha.
KPC has offered a premium premium of $17.5 pera tonne to Middle East spot quotes on a free-on-board (FOB) basis. This is one dollar higher than for April 2006-March 2007 supplies. The deal was seen as within the range of expectations as some traders had said a premium hike of around $1 may be called for, following similar rises concluded at recent term negotiations with Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC), Asia's third largest naphtha supplier.
09-Jun-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}