Pertamina to open tender

Pertamina to open tender

SINGAPORE (Reuters): Indonesian state oil company Pertamina will issue a tender for its July crude and products imports, a company official said yesterday.

But he was uncertain when the tender would be issued and what volumes Pertamina was looking to buy.

He said it would be a tender open to all traders and producers.

Indonesia currently imports around 200,000 barrels-per-day (bpd) of crude oil through two affiliates Perta and Indoil.

Two other affiliates, Pacific Petroleum Trading and Korean Indonesian Petroleum Company (Kipco) market Indonesian crudes for Pertamina, but do not buy crudes on its behalf.

Pertamina is currently reviewing its contracts with Perta and Indoil to decide if the two affiliates would still be needed.

Around a third of Indonesia's current crude imports are Iranian and Saudi grades bought on a term contract basis, with the rest mainly light regional grades from Malaysia, Australia and China purchased from traders on the spot market, traders said.

The Russian government has not confirmed the loans