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Indonesia's Pertamina to keep Aug gasoline imports steady at 10 mil barrels

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Indonesia's Pertamina to keep Aug gasoline imports steady at 10 mil barrels

Singapore — Indonesia's state-owned Pertamina plans to import around 10 million barrels of gasoline in August, unchanged from July, a trade source close to the company said late Monday.

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Market watchers were unable to provide a breakdown of volumes between the three grades of 88 RON, 92 RON and 95 RON for July.

Pertamina was expected to remain active in the spot market to make up for the shortfall in its term gasoline imports for July to December, market participants said.

"In the balance of the year, Pertamina will continue to tender [to buy spot cargoes] as they underbought in their term tender. Not many offered attractive prices [in response to Pertamina's term tender], so every month it will come out with 1-2 million barrels [of spot demand]," a Singapore-based trader said.

The company was struggling to obtain its target prices and canceled two buy tenders recently, traders said.

In one of the tenders, Pertamina had sought HOMC 92 RON gasoline, naphtha and/or 88 RON gasoline for delivery over August-December to Tanjung Uban. The tender closed July 5, but was not awarded. "[Offers] were still far from expectations and cannot be awarded," a source close to the matter said, adding that the tender was likely to be re-issued.

Pertamina had also canceled a tender that closed July 11 seeking 500,000 barrels of 92 RON gasoline in three cargoes for loading over August 11-13, 13-15 and 27-29 from Singapore or Malaysia, likely due to unfavorable offers.

It re-issued a tender seeking the same volumes of 92 RON gasoline with the same laycans. The new tender closes July 17.

Other tenders from Pertamina include a buy tender for 600,000 barrels of HOMC 92 RON gasoline for delivery over August 1-3 to Tanjung Uban, and another seeking 200,000 barrels of HOMC 92 RON gasoline for August 12-14 delivery to Balikpapan.

The total volume it has sought so far is 1.3 million barrels of gasoline for August loading and delivery.

--Wanda Wang,

--Clarice Chiam,

--Edited by E Shailaja Nair,