RI allocates LSWR export

RI allocates LSWR export

SINGAPORE (Reuter): Indonesia's state-owned Pertamina has allocated 3.8 million barrels of low sulfur waxy residue for lifting in October, industry sources said yesterday.

They said Pertamina issued the loading schedule on Monday but has yet to issue individual allocations to its four affiliates.

Only British Petroleum's allocation of 1.09 million barrels was confirmed, they said.

Sources said 1.8 million barrels will be for lifting from floating storage Platinum, 800,000 barrels from Balikpapan, 600,000 from Dumai, 400,000 from Sambu Jetty and 200,000 from Pakning.

While October's allocation is about 200,000 barrels higher than September's, some traders said lower regional demand might depress the premium over Pertamina's formula.

"Japan's demand season for LSWR is over," a Japanese trader said.