Qatar sets naphtha in Q1-2013 at US$36-39 over benchmark Middle East naphtha prices

13-Dec-12

Qatar International Petroleum Marketing Co. set the premiums for petrochemical feedstock in the Q1-2013 at US$36-39/ton over benchmark Middle East naphtha prices, according to three people with knowledge of discussions with buyers, as per Bloomberg. The state-owned marketing company known as Tasweeq agreed to sell full-range naphtha and plant condensate, the people said, asking not to be identified because the information is confidential. Tasweeq sells naphtha and plant condensate on annual contracts that allow buyers to load one cargo a month containing 30,000 to 50,000 tons. Prices will be re- negotiated every quarter. Plant condensate is a light, processed oil that can be used as feedstock for petrochemical production. Abu Dhabi National Oil Co. set premiums for its naphtha contract beginning in February at US$32-34/ton to Middle East prices, two people with knowledge of term discussions said, asking not to be identified because the information is confidential. Saudi Arabian Oil Co. set its premiums at US$30-36/ton to its benchmark formula for the H1-2013, according to three people with knowledge of the matter.