ADNOC is expected to set offers for pentane at $27 a tonne to its own price formula on a free-on-board (FOB) basis, low-sulphur (East) grade at $25 and low-sulphur (West) and full-range naphtha grades at $24 each.

This, however, could not be independently confirmed.

Premiums for ADNOC's current contract which runs from July 2017 to June 2018 was sealed last year at $13 for pentane, $12 for low-sulphur (East) and $11 each for low-sulphur (West) and splitter naphtha.

Demand for naphtha in Asia has been strong although spot premiums came off in Taiwan where Formosa, Asia's top naphtha buyer, is to shut a naphtha cracker for maintenance in June.