At a time of positive petrochemical margins, Kuwait Petroleum Corp (KPC) plans to shortly talks with Asian customers to renew contracts for full-range naphtha lifting during April 2010-March 2011. As an unprecedented offer, KPC may include light naphtha grade produced at its new aromatics plant into its term talks but at limited volume on unstable operations at its new aromatics plant, which was commissioned last November. Both the materials are estimated to be offered at high premiums due to the strong outlook for this year. KPC’s customers include Shell, Japanese trader Marubeni, South Korea's Hanwha and YNCC, India's Haldia Petrochemicals, and Taiwan's CPC.
At a time of weaker markets sentiments in October 2009, KPC realized a premium of US$13/MT to Middle East quotes, FOB, for lifting December 2009-November 2011. Thereafter, the markets in Asia have been on a robust track, as confidence was restored because of the recovering global
Economy, and naphtha crack spread is more than double last October's levels when KPC had its December-November negotiations. KPC terminated its December-November contracts with all its Japanese customers, citing tight supplies after a month-long tussle over premiums.
22-Jan-10 
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