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KPC made the reduction for the full-range naphtha grade on Thursday at its talks with Asian buyers in London, traders said.
The highest premium KPC has ever fetched for a one-year contract was for cargoes lifting from August 2012 to July 2013 at $24 a tonne above Middle East quotes on a FOB basis.
It usually holds three term meetings a year.
The meetings usually last for a week, and buyers have the option to decide after the meeting.