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Qatar Said to Set Naphtha, Condensate Premiums at $36 to $39

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Dec. 12 (Bloomberg) -- Qatar International Petroleum Marketing Co. set the premiums for petrochemical feedstock in the first quarter of next year at $36 to $39 a metric ton over benchmark Middle East naphtha prices, according to three people with knowledge of discussions with buyers.

The state-owned marketing company known as Tasweeq agreed to sell full-range naphtha and plant condensate, the people said, asking not to be identified because the information is confidential. An official in the company’s marketing department in Doha declined to comment.

Tasweeq sells naphtha and plant condensate on annual contracts that allow buyers to load one cargo a month containing 30,000 to 50,000 tons, the people said. Prices will be re-negotiated every quarter. Plant condensate is a light, processed oil that can be used as feedstock for petrochemical production. according to data compiled by Bloomberg.

Abu Dhabi National Oil Co. set premiums for its naphtha contract beginning in February at $32 to $34 a metric ton to Middle East prices, two people with knowledge of term discussions said, asking not to be identified because the information is confidential. Saudi Arabian Oil Co. set its premiums at $30 to $36 a ton to its benchmark formula for the first half of 2013, according to three people with knowledge of the matter.

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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