ADNOC to shut two condensate splitters in October
The shutdown will lead to naphtha production loss.
August 12, 2010 1:23 by Reuters
Abu Dhabi National Oil Co (ADNOC) will shut both its 140,000 barrel-per-day (bpd) condensate splitters starting October, one of which will be idled for about a month, and the other will be taken offline for about 10 days, traders said on Thursday.
This will lead to naphtha production loss, and could see fewer spot parcels streaming out of the Middle East as a result, helping to ease the recent abundant spot supplies from the Gulf.
ADNOC was forced to sell more than 200,000 tonnes of spot naphtha from Ruwais for August loading after its term customers had either dropped their contracts or reduced their term volumes citing high premiums.
(Reporting by Seng Li Peng, Reem Shamseddine and Florence Tan; Editing by Ramthan Hussain)