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BUZZ-Abu Dhabi 1-yr sales premium on July naphtha at lowest since 2009
May 15, 2017 / 7:34 AM / 7 months ago

BUZZ-Abu Dhabi 1-yr sales premium on July naphtha at lowest since 2009

** Abu Dhabi National Oil Co seals one year naphtha deal starting July with at least one buyer at $11 to $13 a tonne above its own price formula on a free-on-board (FOB) basis, traders said

** This is the lowest premium ADNOC has fetched for its 12-month contract starting July since 2009

** More naphtha supplies from the West, including Europe and the Mediterranean and higher alternative liquefied petroleum gas (LPG) availability since U.S. became a key exporter of the latter are weighing on the light fuel

** ADNOC also has contracts running from Jan-Dec 2017

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