Asia/Pacific News
Pertamina, Freepoint to Develop Southeast Asian oil Trading hub
Tuesday May 7, 2019
Indonesia oil producer Pertamina has set its sights on the global oil products trade with a plan to beef up its Sambu Island oil terminal.
The state-owned energy company has signed a deal with US commodities firm Freepoint Commodities to develop the idea, according to regional news provider the Jakarta Post.
Sambu Island is located between Batam and Singapore with access to the busy shipping lane, the Malacca Strait.
Pertamina would supply products for storage and blending while Freepoint would take on an operational role.
The coming market for low sulfur bunker fuels is one of the reasons behind the move, the report said.
