Indonesia’s Pertamina buys first-ever U.S. crude oil cargo – source, data
Indonesia’s state-owned energy company Pertamina has bought its first-ever cargo of U.S. crude oil, which is set to arrive at one of its refineries in June, a source with knowledge of the matter said.
Indonesia is the latest Asian country to import U.S. crude as shale production growth enabled the United States to ship out more competitively-priced light oil to a growing number of buyers in Asia and Europe.
The shipment of close to 600,000 barrels of West Texas Intermediate (WTI) Midland crude was loaded onto the Aframax tanker China Dawn on April 20 at the Enterprise Houston terminal, data from Refinitiv Eikon showed.
The cargo is scheduled to arrive at Cilacap on June 7, the data showed.
Pertamina purchased the cargo in a tender as the offer for the U.S. oil was more competitive than offers for African crude grades, the source said.
The purchase will also enable Pertamina to diversify its crude supplies so it doesn’t have to rely solely on current sources, he added.
Pertamina could not be immediately reached for a comment.
Source: Reuters (Reporting by Florence Tan; editing by Christian Schmollinger and Shreejay Sinha)