Kuwait Said to Agree to Supply Asia Naphtha at $22 a Ton Premium

Kuwait Petroleum Corp. agreed to sell a year’s supply of naphtha to an Asian buyer beginning in April at $22 a metric ton above benchmark Middle East prices, according to two people involved in the negotiations. They declined to be identified because the talks are confidential.

Two telephone calls to the company’s marketing department in Kuwait City were not answered. The supplier settled the December 2011 contract at a premium of $18.50 a ton.

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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