RI to allocate 2.45 million barrels of May low sulphur waxy residue
Tuesday, April 25 2000 - 02:30 AM WIB
Indonesia's state oil and gas company Pertamina had said it would make an initial allocation of about 2.45 million barrels of May-loading low sulphur waxy residue (LSWR), traders said on Monday.
Traders said, however, that about 60,000 barrels of May LSWR had yet to be allotted to a specific lifter.
Of the total volume allocated for May, 2.2 million barrels is mixed/cracked LSWR and 250,000 barrels is straight-run material, they said.
Some traders said that Korea Indonesia Petroleum Co. Ltd. (KIPCO) had not been allotted any LSWR for May and that it could eventually be allotted the 60,000 remaining barrels. The May allocation is slightly below April's initial allocation of about 2.6 million barrels. (*)