RI allocates crude for sale

RI allocates crude for sale

SINGAPORE (Reuter): Indonesia's state-owned oil firm, Pertamina, has allocated about 200,000 barrels per day (bpd) of crude oil in June, down from 220,000 bpd in May, industry sources said yesterday.

Traders were mostly expecting the allocations to be unchanged from May. But sources said the lower allocation was because Indonesian refineries were operating at full capacity to meet domestic demand from refined oil products.

However, sources noted that an addition of 20,000 bpd of crude could be allocated for June at a later date.

Indonesia's June allocation of Minas crude to its marketing affiliates was at 80,000 bpd, up five from its first allocation for May.

Its June Duri crude allocation was down 10,000 bpd to around 35,000 bpd.

June Widuri crude allocation was at 15,000 bpd, up 4,000 bpd from May. About 15,000 bpd of Cinta was also allocated for June. Pertamina's allocation of Belida, a light crude, was at 7,000 bpd compared to 12,000 bpd for May.