Indonesia's state-owned refiner Pertamina is including Argus' Singapore gasoil prices as a pricing option in a gasoil tender for the first time.
The refiner will base prices on either the whole-month average of Argus' Singapore 2,500ppm sulphur gasoil assessments or Platts' Singapore 2,500ppm sulphur gasoil assessments, whichever is lower, its tender documents show.
Pertamina is seeking a 200,000 bl cargo of 2,500ppm sulphur gasoil for loading from Karimun, Indonesia or from Singapore or Malaysia on 21-23 December. It is also seeking either a 300,000 bl, 400,000 bl or 500,000 bl cargo of 2,500ppm sulphur gasoil for loading from the same countries over 28-31 December. There is also an option for the later cargo to be delivered to Balongan in Indonesia over 1-5 January.
The spot tender will close on 16 December and offers are valid until 17 December.
Indonesia is a net importer of gasoil, and mostly buys the 2,500ppm sulphur grade for use in transportation. It imported an average of 53,000 bl/month in January-October this year, down from 73,000 bl/month a year earlier and 81,000 bl/month in January-October 2019, as the Covid-19 pandemic hit demand, customs data show.
