May 3, 2019 / 4:26 AM / 24 days ago

Indonesia's Pertamina, Freepoint Commodities sign HoA for fuel terminal

JAKARTA, May 3 (Reuters) -

* Indonesia’s state energy company PT Pertamina signed a head of agreement (HoA) with trading firm Freepoint Commodities Pte Ltd to optimize the utilization of Pertamina’s fuel terminal in Sambu Island

* The partnership deal will involve Pertamina supplying oil products to the terminal and Freepoint will help manage the terminal, Pertamina said in a statement on Friday

* Pertamina will also have the option to buy final products from the terminal, the statement added

* Sambu Island terminal, which is located near Singapore, has a capacity of 320,000 kilolitres

* The terminal is a “strategic supply point” for international trade, Pertamina said (Reporting by Wilda Asmarini, Writing by Fransiska Nangoy, Editing by Sherry Jacob-Phillips)

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