SEOUL, June 18 South Korea's Samsung Total
Petrochemicals said it was on track to start up a new condensate
splitter in July.
A company official said on Wednesday that test-runs on the
150,000 barrels per day (bpd) unit started this month. It will
produce mostly naphtha and some distillates.
Sentiment in the Asian naphtha market has been weak recently
as Samsung Total is not the only firm starting up a condensate
SK Energy and Jurong Aromatics are also expected to bring
online new condensate splitters from next month.
"Generally the naphtha market has been weak because of
concerns over the new condensate splitters. But sellers are also
unwilling to sell too much naphtha volume at low prices now in
case the splitters do not run at high rates," a Singapore-based
trading source said.
(Reporting by Jane Chung; Additional reporting by Seng Li Peng
in SINGAPORE; editing by Jane Baird)