|
|
Article: Japan : Marubeni not to renew naphtha deal with KPC due to high offers.
- Article from:
- TendersInfo
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: manish03
Japanese trading house Marubeni will not renew its contract with Kuwait Petroleum Corp (KPC) for naphtha supplies lifting December 2009-November 2010 due to high offers, traders said on Monday.
Marubeni has been the biggest term holder alongside Mitsubishi Chemical and Maruzen, said a trader. KPC has three yearly contracts, with each agreement running from April-March, August-July and December-November. Marubeni is said to be involved in all three contracts before the termination, making them a significant customer of KPC. For the December-November contract, traders estimated that volumes held by the Japanese trader could be less than ...