Click here to [close]  

Click here to Register Now  

  Member Login  

YnFx PriceWatch Report
Fill in the below form to get the latest PriceWatch Report Free
Membership Form

Subscribe to Pricewatch Channel for 12 months
View Sample Pricewatch Report

View Other Products
Polyester Chain
Polyester Staple Fiber
Polyester Filament Yarn
Purified Terephthalic Acid
Polyester Chips - Fiber Grade
Monoethylene Glycol
Nylon Chain
Nylon Filament Yarn
Polyamide Chips
Acrylic Chain
Acrylic Staple Fiber
Viscose Chain
Viscose Staple Fiber
Viscose Filament Yarn
Crude Oil

  Write to YnFx
for customized reports!

Polyester Chain Report 09

Acrylic Chain Report 09

Nylon Chain Report 09

World Fibre Report 08

Polyester Chain Report 07

Home Textiles 2007

Intro to Geo Textiles

Viscose Chain Report 07

Much More

PriceWatch Report Highlights 14 April 2014

Polyester Chain | Nylon Chain | Acrylic Chain | Viscose Chain | Others

Others -> Naphtha


Asian naphtha market has recently been weighed down by falling demand but may get some support from an expected fall in arbitrage volumes from Europe to Asia in April and May. Also strong seasonal demand for gasoline could provide additional support for the Asian naphtha market.

Naphtha News

Asian Naphtha Margin Stable After Five-Week High [ 29 Oct, 2013]

The Asian naphtha margin was stable at $118.48 a tonne on Monday after hitting a five-week high in the previous session, supported by North Asian demand and tighter supplies. The gasoline margin fell to $2.68 a barrel, however, after briefly rising above $3 a barrel on Friday for the first time in about a week. South Korea's YNCC was heard to have bought about 75,000 tonnes of naphtha for second-half December delivery at premiums of about $8 a tonne to Japan quotes on a cost-and-freight (CandF) basis.

These were the highest premiums YNCC had paid since May 14. The purchase came within a week of its latest purchase on October 21. Buyers appeared to be moving more quickly than before due mostly likely to expectations of tighter supplies ahead as the availability of alternative liquefied petroleum (LPG) gas is likely to fall due to winter demand. India is also expected to keep exports for November at lower levels. Taiwan's CPC was also out seeking full-range naphtha for December 1-25 in a tender.

India's ONGC sold 35,000 tonnes of naphtha for November 20-21 loading to Itochu at a premium of about $26 a tonne to Middle East quotes on a free-on-board (FOB) basis, the highest in about two months. BPCL sold 11,000 tonnes of naphtha to Shell at parity, versus a discount of $5 per tonne that it had fetched previously for an October cargo.

Source: Reuters

Russia - Novatek Seeks Tax Breaks For Naphtha Exports [ 21 Oct, 2013]

Novatek, Russia's No.2 natural gas producer, is lobbying for a lower duty on exports of naphtha, a company spokesman said, in a move to help reduce its growing inventories at a new refining complex.

Novatek and petrochemical company Sibur started operating an oil product refining and terminal complex at the Baltic port of Ust-Luga in June, with plans to initially produce 2 million tonnes of naphtha and some 800,000 tonnes of kerosene and diesel a year.

In the third quarter alone, Novatek data showed it exported around 562,000 tonnes of naphtha from Ust-Luga.

Industry sources have said that Novatek Chief Executive Officer Leonid Mikhelson has asked Russian President Vladimir Putin for tax breaks as the company has faced growing inventories at Ust-Luga.

The spokesman confirmed on Monday that Novatek was seeking tariff cuts on naphtha but declined to elaborate.

"At the moment, the departments (in the government) are discussing the offer for the second time already. After Mikhelson met Putin, their position towards the cuts has softened," a government source said.

Novatek's liquids business accounts for 10 percent of its hydrocarbon output and more than half of its total earnings before interest, tax, depreciation and amortisation (EBITDA).

Sources said that Novatek was asking that the tax on naphtha exports be cut to around 80 percent of the export duty on crude oil from the current level of 90 percent.

The naphtha export duty NPTH-EXPDTY-RU is expected to fall to $356.30 per tonne in November.

According to Sberbank CIB analysts, Novatek could save some $40 per tonne in the event of export duty cuts, which could translate into an EBITDA increase of $200 million this year.

Novatek has also secured support for its liquefied natural gas project from Putin, who has ordered the government to expand tax breaks to more deposits that will supply gas to the future plant in Yamal peninsula.

Source: Reuters



Corporate | Services | Trade Division | Solutions | Join Us | Helpdesk | YnFx Blogs | YnFx Forum | Useful Links | Sitemap
  1998 to 2014 © YnFx -
All trademarks, logos and names are properties
of their respective owners. All Rights Reserved.
This Website is best viewed in IE 5.5 and above at 800 x 600 or higher resolution. Please enable cookies and javascript.