Article: Korea : Lotte Daesan shelves 2009 contract with Saudi Aramco for alternate supplies.

Byline: manish03

South Koreas Lotte Daesan Petrochemical has shelved its 2009 contract with Saudi Aramco for 150,000 tons of naphtha, in favour of better offers from other sellers. Lotte Daesan, set to merge with Honam Petrochemical Corp on Jan. 1, did not renew a contract to buy the A180 grade at US$5/ton premium to Aramcos price formula, on free-on-board basis for 2009 lifting. Instead, it bought a total 500,000 tons of open-spec and full-range naphtha for ...

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