Nov. 8 (Bloomberg) -- Abu Dhabi National Oil Co. made an initial offer to Asian buyers for a year’s supply of naphtha starting in January, according to three people involved in the negotiations.
The state-owned producer also known as Adnoc sought to sell its Pentane-Plus grade at $21 a metric ton above Middle East benchmark prices, the people said, declining to be identified because the information is confidential. Low-sulfur naphtha was offered at a premium of $20 a ton and Splitter grade at a premium of $19, they said. Negotiations are ongoing.
Calls to Adnoc’s marketing department and switchboard were not answered. The company, based in the capital of the United Arab Emirates, offers term cargoes in annual contracts starting from January, April and July.
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