June 18, 2012 / 8:49 AM / 7 years ago

Asia Gasoline-Indonesian July imports seen lower

SINGAPORE, June 18 (Reuters) - Indonesia’s Pertamina is expected to import around 8.7 million barrels of gasoline for July delivery, down by about 3.3 percent from June as domestic supplies are being restored following a refinery maintenance, traders said on Monday.

A drop in buying by Asia’s top gasoline importer will weigh on sentiment even if the decrease is marginal as it combines with lower demand from Vietnam, Asia’s second largest importer.

Pertamina had restarted its 125,000 barrels per day (bpd) refinery in Balongan, its main gasoline producing refinery in Indonesia, around late May following a near two-month planned maintenance shutdown.

During the shutdown period, Pertamina imported monthly record high levels of gasoline of around 9.7 million barrels in April.

Separately, Pertamina is in talks to buy gasoline for third quarter delivery.

It has an existing contract for up to 8.5 million barrels of 88-octane gasoline grade a month for April-June delivery, done at a discount of $1.60 a barrel to Singapore quotes on a free-on-board (FOB) basis. (Reporting by Seng Li Peng; Editing by Ed Lane)

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