Pertamina concludes June oil product import: Report

State oil and gas company, Pertamina, has completed purchasing most of its June oil product requirement, with the exception of gasoline, Dow Jones news agency quoted sources as saying Friday.

According to the report, Pertamina is expected to re-tender for its gasoline requirement after concluding the purchase of just one 92 RON gasoline cargo at a premium of 32 cents a barrel to the Singapore mean.

For other products, Pertamina secured four 600,000-bbl gasoil cargoes at a cost and freight premium of $1/bbl and four 200,000-bbl fuel oil cargoes at a flat premium to the Singapore mean values.

Pertamina also purchased two kerosene cargoes totaling 600,000 bbl for its June requirements, but the premiums paid were sketchy, said a trader. Pertamina paid close to a $1/bbl premium for its May kerosene requirement, marginally higher than the $0.70/bbl level expected for the June cargoes.

The latest tender result reveals close coordination efforts between Pertamina and its subsidiary companies in Singapore and Hong Kong, which were awarded at least half of the product requirement sought in the June buy tender.

Pertamina's subsidiary, Pertamina Energy, is believed to have been awarded two gasoil cargoes, one kerosene cargo, two fuel oil cargoes and a gasoline cargo, according to a trader. (*)