VOL. XXXIX

No. 39

24-June-1996

UAE

ADNOC Concludes Annual Naphtha Premium With Asian Term Buyers

Japanese and Korean contract buyers of ADNOC's full-range naphtha have concluded annual term negotiations with their supplier, with the two sides settling on an increase of some $1.80/ton over the mean of Mideast quotations for one year beginning in July. The increase puts the premium at $6.80/ton, up from $5.00 currently.

Naphtha prices have been on a firming trend in Asia recently...