Friday, November 21, 2008

Asian term naphtha offers slide amid petrochem glut

The petrochemical glut in the Asian region has resulted in sliding term naptha premiums relative to previous offers. Kuwait Petroleum Corp (KPC), Asia's no. 2 naphtha supplier had recently arrived at a premium of US$2/ton relative to Middle East quotes on FOB basis for December 2008 - November 2009 naphtha supply contract.

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