Indonesia's Pertamina sets Jan

Singapore (Platts)--3Jan2014/151 am EST/651 GMT

Indonesian state-owned oil and gas company Pertamina's January to June term import prices for 88 RON gasoline on an FOB Singapore basis have risen 43 cents/barrel from the fourth quarter of 2013 to a 53 cents/b premium to the Mean of Platts Singapore 92 RON gasoline assessments on an FOB Singapore basis, trade sources said Friday. Pertamina settled the Q4 premium for 88 RON gasoline imports at 10 cents/b above the Mean of Platts Singapore 92 RON gasoline assessments on an FOB Singapore basis. It secured Q3 supplies at a 20 cents/b discount to the benchmark. Identities of term suppliers to Pertamina could not be confirmed. A source said one reason for the higher term prices in the first half of 2014 was the narrow reforming spread between naphtha and gasoline. 'Naphtha is a key component,' the source said. The spread between FOB Singapore 92 RON gasoline and FOB Singapore Naphtha averaged $12.87/barrel in H2 2013, down from $19.36/b in H1 2013, according to Platts data. Pertamina settled delivered term prices for 88 RON 140,000-200,000 barrel parcels into Tanjung Uban, Jakarta, Surabaya and Tuban at premiums of $1.16-1.84/b to MOPS 92 RON gasoline assessments, traders said. In January, Pertamina is expected to import around 9.8 million barrels of 88 RON gasoline and 400,0000 barrels of 92 RON gasoline. Pertamina is discussing February term volumes this week, a second trade source said.--Jonathan Nonis, jonathan.nonis@platts.com --Edited by Meghan Gordon, meghan.gordon@platts.com