Indonesia crude tender on February 7, 2011

Pertamina Energy Services (PES) intends to issue on February 7, 2011, an open expression of buying interest for West African and regional Asian sweet crude for April 5-15, 2011, delivery basis CFR Cilacap, Indonesia.

The tender will be facilitated by Platts' crude oil MOC (market on close) assessment process, with firm and transparent named offers for full cargoes published on page 3 of Platts' real-time information service, Platts Global Alert.

Offers are to be made only on Dated Brent pricing basis for 950,000 barrel West African cargoes of Qua Iboe, Akpo and Escravos, and for 550,000 barrel regional Asia-Pacific crude cargoes of Seria Light, Tapis and Kikeh, with April 5-15 delivery timing.

Firm, named offers are to be submitted to Platts Editorial in Singapore by phone at +65 6530 6573 or +65 6530 6501 or via Yahoo IM to platts_apag prior to 4.00 pm SG time (8.00 am London time).

Prices can then be changed until 4.30 pm SG time (8.30 am London time), after which no further changes will be published. Final offers standing at 4.30pm will have validity until 5.00 pm Singapore time (9.00 am London time) on the day of tender.

PES commits to buy cargoes offered firm at acceptable price levels (without further negotiation) from normal participants in the MOC process.

Pertamina Crude Oil Import Tender GT&Cs will be applied, subject to normal trading practices to ensure concordance with international trading standards.

PES may also bid firm and transparently onscreen on February 7 with Dated Brent-related pricing for Qua Iboe, Akpo, Escravos, Seria Light, Tapis or Kikeh, subject to refinery requirements.

For further details, contact asia_crude@platts.com and pricegroup@platts.com, or call the price group at +65 6530 6584 during Asian business hours or +44 7817 149 889 and +44 20 7176 6112 during Western business hours.