Adnoc Said to Reduce January 2011 Naphtha Offer Prices
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Abu Dhabi National Oil Co. reduced the offer prices for a year’s supply of naphtha to customers in Asia from January, according to three people who received notification.
The U.A.E. company, known as Adnoc, lowered its selling price for Pentane Plus naphtha to $18.50 a metric ton above benchmark Middle East prices, the people said, declining to be identified as talks are confidential. It is seeking to sell Low Sulfur grade at a premium of $17.50 a ton and Splitter grade at $16.50 a ton, the people said. An Adnoc spokesman in Abu Dhabi couldn’t be reached for immediate comment.