Bahrain Petroleum Co., the state-run refiner in the Persian Gulf island nation, agreed to sell naphtha for delivery next year at a premium of between $16 and $16.50 a metric ton above benchmark prices, according to two company officials.
The refiner, known as Bapco, will sell 1.1 million tons of the fuel for loading from January through December 2012, according to the officials, who asked not to be identified because negotiations are confidential.
Bapco also sold 2 million tons of diesel for loading next year at a $3 premium, the officials said. The company won’t sell gasoline because supplies are needed to meet domestic demand.
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