A Few Buyers Possibly Accept ADNOC's Offer Prices- Premium prices from 16.5 US dollars to 18.5 US dollars /MT are to be fixed if this is true

摘要

There is an information that a few customers accepted offer prices at term deal for naphtha between Abu Dhabi National Oil company, or ADNOC, in United Arab Emirates and customers, which has been held since the beginning of this month. Last week, ADNOC notified the customers of its intention to reduce a price of each grade naphtha by 50 cents from its original offer prices respectively. As a result, pentane plus grade of naphtha was offered at 18.5 US dollars to its price formula on FOB Arabian Gulf, low sulfur at 17.5 US dollars /MT, and splitter at 16.5 US dollars /MT, which will be supplied for a year from January to December 2011.