Pertamina sells paraxylene to domestic buyers
Tuesday, February 21 2017 - 01:35 AM WIB
State-owned oil and gas firm PT Pertamina said its petrochemical trading unit has won a contract to supply a total of 70,000 tons of paraxylene from two domestic buyers.
Pertamina said in a statement obtained Monday that under the January-July 2017 contract, the company ships about 10,000 tons per month of paraxylene to two companies PT Mitsubishi Chemical Indonesia and PT Indorama Petrochemicals.
The company said that the paraxylene is imported from Jurong Aromatic Complex in Singapore, the first imported paraxylene cargo sold by Pertamina through third party transaction, providing additional revenue of US$60 million for the unit. Pertamina said that it would produce own paraxylene from its domestic refineries in the future.
The Pertamina petrochemical trading unit has previously been engaged in third party trading of other products such as asphalt, sulfur, solvent, paraffin wax, slack wax and petroleum coke.
Editing by Reiner Simanjuntak