June 6, 2018 / 11:44 AM / 6 months ago

Saudi Aramco agrees gasoline term with Pertamina for the first time: sources

FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo

SINGAPORE (Reuters) - Saudi Aramco has agreed a term contract with Indonesia’s Pertamina for the first time to supply gasoline over July to December this year, traders familiar with the matter said on Wednesday.

This would likely be the first time Aramco Trading is supplying term barrels into Indonesia, Asia’s largest importer of the motor fuel, the traders said, though this could not immediately be confirmed.

Pertamina and Aramco Trading officials declined to comment.

Aramco Trading will be supplying a total of about 1 million barrels a month of 88-octane and 92-octane gasoline grades, traders said.

It was not immediately clear where Aramco planned to supply the cargoes from but it holds a majority share in S-Oil Corp, South Korea’s third-biggest oil refiner.

Reporting by Jessica Jaganathan and Seng Li Peng; editing by David Evans

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