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Asia Gasoline/Gasoil-Indonesia wraps up Q4 oil product purchases
September 13, 2012 / 11:47 AM / 5 years ago

Asia Gasoline/Gasoil-Indonesia wraps up Q4 oil product purchases

SINGAPORE, Sept 13 (Reuters) - Indonesia’s Pertamina has wrapped up talks to buy up to 9 million barrels of 88-octane gasoline a month and 4-5 million barrels of 0.35 percent sulphur gasoil a month for October to December delivery, traders said on Thursday.

The volumes were largely similar to its third quarter quantities. It has also sealed a deal for 400,000 to 600,000 barrels of jet fuel a month for fourth-quarter delivery.

Prices for gasoline, gasoil and jet fuel cargoes for October to December delivery were largely unchanged from its third quarter contract.

Its third-quarter contract for gasoline was done at a discount of 80 cents a barrel to Singapore quotes on a free-on-board (FOB) basis.

Its third-quarter gasoil contract was sealed at about $1.10-$1.15 a barrel above the Pertamina pricing formula for 600,000-barrel cargo sizes to be delivered into Tuban and Balongan and $1.80-1.85 a barrel premium for 200,000-barrel lots.

For jet fuel, the company paid $1.60-$1.80 a barrel premium. Both jet fuel and gasoil prices were on a cost-and-freight basis.

All deals were done through its trading arm Petral, based in Singapore. (Reporting by Seng Li Peng and Jessica Jaganathan)

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