Indonesian state-owned oil firm Pertamina is looking to buy around 1.2 million barrels of 2,500ppm sulphur gasoil for prompt delivery in the next few weeks, multiple trade sources said on Friday.

The company is seeking one 500,000-barrel cargo, two 200,000-barrel cargoes and one 300,000-barrel cargo via a procurement tender that closes on Jan. 6, they said, adding that offers have to be valid till Jan. 8.

These cargoes are for delivery to Tuban, Tanjung Uban and Pulau Laut mostly between Jan. 14 and Jan. 28.

The refiner is also seeking around 500,000 barrels of January-delivery jet fuel in a separate purchase tender that closes on Friday.

This is in addition to the term delivery of jet fuel already bought for January to March delivery at premiums of $1-1.50 a barrel above Singapore prices, one of the sources said.

Pertamina’s trading arm did not immediately reply to a Reuters request for comment.

The surge in buying activity could be ahead of a refinery maintenance at one of Pertamina’s sites soon, a second source said.

The company’s refinery unit also did not immediately respond to a Reuters query.
Source: Reuters