Pertamina cuts oil exports

Pertamina cuts oil exports

SINGAPORE (Reuters): Indonesian state oil company Pertamina has reduced the export allocations of its heavy Minas crude for April lifting to 7,000 barrels-per-day (bpd), down from 15,000 bpd in March, traders said yesterday.

It also did not allocate any light Belida crude for April for the third consecutive month, they said.

Traders said that Pertamina allocated around 8,000 bpd of Widuri crude for April compared to 7,000 bpd in March, but did not allocate any Cinta in April compared with 5,000 bpd in March.

Pertamina allocated 60,000 bpd of Duri for April, with the shut down of the 125,000-bpd Balongan refinery increasing the volumes of Duri available for export, traders said.

In March, Pertamina had allocated an initial volume of 40,000 bpd of Duri, but subsequently released an additional 1.5 million barrels (48,000 bpd) following the shut down.

The allocations of the main crude indicate that total allocations were around 120,000 bpd.