Adnoc seals term premiums

ABU DHABI Abu Dhabi National Oil Co (Adnoc) has sealed contracts for all three of its naphtha grades for July 2009 to June 2010 lifting at $10.50 to $12.50 a tonne to its own pricing formula, about half the value versus its April-March deals. Its premiums are close to Saudi Aramco's prices for its July-December supplies at $8-$10 a tonne to its own pricing formula on a FOB basis.

 

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