Crude Oil
Pertamina, Indonesia's fuel retailer, says retailers have yet to purchase gasoline due to specification concerns
Pertamina, the state-owned energy company in Indonesia, said that private fuel retailers had yet to purchase gasoline because they were concerned about fuel specifications, despite low stock levels. Indonesia instructed private retailers last month to import more fuel via Pertamina, after Shell and BP-AKR – the operator of BP’s fuel stations – ran out of fuel after more customers began turning to them following an investigation into the quality Pertamina’s own gasoline. Pertamina announced last week that Vivo Energy Indonesia agreed to purchase 40,000 barrels from a 100,000 barrel cargo of Pertamina's base fuel. However, the deal fell through due...