December 12, 2024 [Reuters]- Indonesia’s state-owned energy major Pertamina (PERTM.UL) is seeking at least 400,000 barrels of jet fuel for term delivery between January and March 2025 via its trading arm, two sources with knowledge of the matter said on Thursday.

The company is looking to buy at least one 200,000-barrel cargo of the aviation fuel per month for either January-February delivery or January-March delivery, with the first two deliveries preferably on Jan. 3-5 and Jan. 8-10 to Jakarta, they said.

The tender closes on Dec. 13, with offers to valid up till Dec. 19.

Pertamina last purchased 200,000 barrels of Dec. 11-13 arrival jet fuel at a premium of $1-$2 a barrel to Singapore quotes in mid-November.

This short-term demand is likely to due to expectations of lower local production because of some maintenance plans at one of Pertamina’s refinery sites and some stocking up on firmer demand requirements in end-March following Ramadhan, one of the sources said.

The company’s trading arm did not immediately respond to a query from Reuters.

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