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PT Pertamina Bought Nigerian Qua Iboe and Escravos Crude Oil Cargoes

By on July 14, 2011

PT Pertamina, Indonesia’s state oil company, bought two cargoes each of Nigerian Qua Iboe from Gunvor SA and Escravos crude from Vitol Group, according to four people who participate in the West African crude market.

The shipments are for 950,000-barrel lots for delivery in October and November, said the people, who declined to be identified because they aren’t authorized to speak to the media.

Pertamina also bought a cargo of Qua Iboe for delivery in September from Socar Trading SA, the international marketing unit of the State Oil Co. of Azerbaijan, they said.

Details of the purchases are as follows:

---------------------------------------------------------------
Crude:         Qua Iboe (Nigeria)
Quantity:      950,000 barrels each per month
Delivery:      October, November delivery
Seller:        Gunvor
Price:         Not confirmed.
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Crude:         Escravos (Nigeria)
Quantity:      950,000 barrels each per month
Delivery:      October, November delivery
Seller:        Vitol
Price:         Not confirmed.
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Crude:         Qua Iboe (Nigeria)
Quantity:      950,000 barrels
Delivery:      September
Seller:        Socar Trading
Price:         Not confirmed.
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Source:Bloomberg