SEOUL, June 18 (Reuters) - 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 splitter.
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)