|18 February, 2020

Pertamina buys NWS, Sharjah condensate cargoes for April-May delivery - sources

The NWS cargoes, due to arrive during April 22-24 and May 1-3, were bought at a premium of below $1 a barrel

SINGAPORE  -

* Indonesia's Pertamina bought two more cargoes of Australia's North West Shelf (NWS) condensate and one cargo of Sharjah condensate from the United Arab Emirates for delivery scheduled in April and May, two trade sources said on Tuesday.

* The NWS cargoes, due to arrive during April 22-24 and May 1-3, were bought at a premium of below $1 a barrel to dated Brent on a CFR basis from Mitsui and Shell.

* The Sharjah cargo arriving mid-April was purchased at a premium of nearly $1.5 a barrel to dated Brent on a CFR basis from BP.

* Earlier this month, Pertamina bought an NWS cargo arriving April 1-3 at a premium of above $1 a barrel to dated Brent.

* Companies do not typically comment on such commercial matters.

* The cargoes were for Trans Pacific Petrochemical Indotama (TPPI), operator of a condensate splitter in Indonesia.

(Reporting By Shu Zhang) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))

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