The Indonesian firm is aiming to supply 200,000 mt/month of VLSFO to the Singapore market. File Image / Pixabay
Indonesian state-owned oil producer Pertamina is seeking to produce its own blend of VLSFO to supply the Singapore bunker market, according to price reporting agency Argus Media.
Trading unit Pertamina International Marketing and Distribution (PIMD) will aim to have VLSFO production from its Pulau Sambu terminal online by 2023, Argus reported on Wednesday, citing market sources.
The firm currently receives LSFO cargoes from Freepoint Commodities at the terminal that it uses to supply ships in the nearby Singapore bunker market. The terminal has 3.2 million litres of storage capacity.
PIMD is aiming to supply 200,000 mt/month of VLSFO to the Singapore market, Argus said.