Kuwait eyes high term naphtha premiums, no offer yet

Kuwait Petroleum Corp (KPC) is eyeing double-digit premiums for December 2009-November 2010 naphtha supplies, but has yet to make a firm offer after two days of talks due to a wide gap against buyers' aims, traders said on Wednesday.

Traders said KPC has met around eight of its customers in the London talks. "Buyers are seeking low single-digit premiums, but KPC is aiming for much higher," said a trader. Notional values from KPC were heard in the range of low-to-high teens, but KPC could not be immediately contacted. "My guess is, we will see a firm offer by Thursday," said another trader.