Pertamina buys 7.2 million barrels of HSD oil

State oil and gas company PT Pertamina has purchased 7.2 million barrels of high speed diesel (HSD) to boost the national oil stock in 2005, the Bisnis Indonesia newspaper reported in its Monday edition.

The oil will be shipped into Indonesia next year with a shipping order to be delivered until November 2005.

As per a document received by the Bisnis on Sunday, the oil was bought through contract from an independent trader in Singapore, WVC Petroleum (Far East) Ltd. in October.

“The total quantity of HSD oil with 0.5 percent sulfur in the contract is 7.2 million barrels, which will be shipped in one year time. Every month, 600,000 barrels will be transported from either a Russian port or a Latvian port to Semangka Bay or Situbondo,” the document stated.

It was mentioned in the document, which was signed by Pertamina’s president director and WVC Petroleum (Far East) Ltd’s general manager Wilson Chin, that Pertamina will receive three ships during a three month trial period. Starting from December 2004. (*)