RI allocates 210,000 bpd of crude oil

RI allocates 210,000 bpd of crude oil

SINGAPORE (Reuter): Indonesian state-owned oil firm Pertamina
has allocated about 210,000 barrels per day (bpd) of crude oil to
its marketing affiliates in February against 230,000 bpd in
January, trade sources close to Pertamina told Reuters yesterday.

"The total allocation to all its marketing affiliates,
including Japanese traders Mitsubishi and Itochu, is about
210,000 bpd," a source at one of Indonesia's marketing affiliates
said.

"In February, the crude oil allocation to Japan is slightly
more, but unfortunately, it still falls short of demand."

According to sources, allocation to Japan was higher in
February due to the merger of Indonesia's two Japanese
affiliates, Japan Indonesia Oil (JIO) and Far East Oil (FEO) to a
new company called Pacific Petroleum and Trading Co. Ltd.,
effective Jan. 1, 1996.

In January, Indonesia still continued to allocate its two
Japanese affiliates separately, amounting to about 70,000 bpd.

Sources added that in February, Indonesia's allocation of
Minas crude to Japan was less than January mainly due to the
increase in domestic refinery runs in Indonesia.

February allocations of key export crudes like Minas is
slightly below the 75,000 bpd seen in January, while Duri is said
unchanged around 45,000 bpd.

Pacific Petroleum and Trading Co. Ltd. was heard requesting
for an export volume from Pertamina which reflects the total
amount JIO and FEO received before the merger.