25 September 2013 17:01 [Source: ICIS news]
SINGAPORE (ICIS)--Petral, the trading arm of Pertamina the state owned Indonesian oil company, purchased two November-delivery North West Shelf Condensate (NWSC) cargoes in the spot market over the past week, a company source confirmed.
The two NWSC cargoes bought by Petral were understood to have been purchased from Woodside and Mitsui at around Dated Brent minus $0.50/bbl free on board (FOB) Dampier Western Australia, industry sources said.
Petral has been eager to secure condensate cargoes in order to provide feedstock for the Trans Pacific Petrochemical Indotama (TPPI) petrochemical complex at Tuban in Indonesia in which Pertamina is a stakeholder, sources added.
The TPPI plant is expected to restart in the near future after being shutdown since the end of 2011. Facilities at Tuban include a 100,000 bbl/day condensate splitter a reformer and an aromatics unit which can produce can produce 550,000 tonnes/year of paraxylene (PX) and 360,000 tonnes/year of benzene.
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