Indonesia's Pertamina is seeking naphtha for a second time through tenders as an alternative raw material to feed a 100,000 bpd condensate splitter in view of high condensates prices, as per traders in Reuters. The state-owned firm is not a regular naphtha importer and this month was the first time this year that it had issued naphtha tenders, they added. "Pertamina likely does not have enough condensate for the splitter and is looking to buy naphtha instead," said a trader not related to Pertamina.
Pertamina usually buys about 1.2 mln barrels of condensate each month for the splitter, traders said in Reuters. But for February, it had only purchased one condensate cargo loading early in the month, they added. Spot premiums for February-loading condensate have more than doubled from a month ago to nearly US$5 a barrel above dated Brent.
04-Jan-16 
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