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BUZZ-ADNOC pegs 2018 naphtha offers at over 120 pct higher vs 2017
October 30, 2017 / 4:05 AM / a month ago

BUZZ-ADNOC pegs 2018 naphtha offers at over 120 pct higher vs 2017

** Abu Dhabi National Oil Co (ADNOC) offers naphtha for 2018 at $15 to $18 a tonne above its own price formula on a free-on-board (FOB) basis, reflecting a 125 to 150 percent spike over 2017 premiums

** ADNOC offers different grades of the fuel, with pentane at $18 a tonne premium, followed by low-sulphur grade at $16 and splitter naphtha at $15, traders say

** Buyers are to reply to ADNOC on Wednesday

** Strong naphtha fundamentals caused by demand in favour of sellers

Reporting by Seng Li Peng

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