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Indonesia plans to import 11 mil barrels of gasoline in Jun, similar to May: traders

Indonesia’s state-owned Pertamina plans to import around 11 million barrels of gasoline in June, similar to estimated imports for May, as it continues to stock up during the Ramadan peak demand period, market sources said Wednesday.

Pertamina’s gasoline imports for May were estimated at around 10.5 million barrels.

Market watchers were unable to provide a breakdown of volumes between the three grades of 88 RON, 92 RON and 95 RON.

Pertamina could not be reached for comment.

The company late Tuesday issued a tender seeking 1 million barrels of 92 RON gasoline in five 200,000-barrel clips for loading over June 2-13 from Singapore or Malaysia. The tender closes May 17 with validity until May 21.

“They issued 1 million barrels spot for H1 June yesterday [Tuesday]; not sure if it’s counted under the 11 million [barrel] figure though,” said a Singapore-based trader, who added it likely did fall under that figure as 12 million barrels “would look a bit high”.

In February, Indonesia imported 446,585 mt of gasoline with an octane value of between 90 RON and 97 RON, latest official data from Statistics Indonesia showed. Imports of low octane gasoline totaled 357,777 mt in the month. Monthly imports over January and February averaged 1.022 million mt, or 8.69 million barrels.

Pertamina owns and operates seven oil refineries in Indonesia with a total installed capacity of 1.05 million b/d. However, with most of the plants aging, they operate at around 800,000 b/d, and the company relies on imports to meet domestic oil products demand that is double its realized production.

Source: Platts

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