Petroleum Authority Signs First Fixed-Term Naphtha Deal
Agreement signed for naphtha delivery at the destination port instead of on board the vessel.
Translated by Qiyas from النهار — Original source
Insiders said yesterday that the Kuwait Petroleum Corporation (KPC) has, for the first time, signed a time-charter naphtha contract based on delivery at the destination port, amid disruptions to loading operations under FOB terms at the Strait of Hormuz. The contract for full-range naphtha shipments, scheduled for delivery between December 2026 and November 2027, was concluded at a premium of approximately $75 per ton above Japan Crude Cocktail (JCC) prices. This time-charter agreement aligns with the company’s spot sales offers since the outbreak of the war in the Middle East, all of which have been delivered on a destination basis.
