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Indonesia's Pertamina buys two condensate cargoes for Oct… – Reuters Africa

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SINGAPORE, Aug 14 (Reuters) –

* Indonesia’s Pertamina has bought one Sharjah condensate cargo at a discount of more than $1 a barrel to dated Brent and one Kupe condensate cargo at a discount of more than $2 a barrel to dated Brent, two trade sources said on Wednesday

* EXTAP, a unit of Exxon Mobil Corp, is the likely seller of United Arab Emirates’ Sharjah condensate, and trading house Vitol the likely seller of New Zealand’s Kupe condensate, the sources said

* Both 650,000-barrel cargoes were bought on a cost-and-freight (CFR) basis, they said, and are expected to be delivered over Oct. 11 to Oct. 15

* Kupe and Sharjah condensates are less traded grades in the spot market compared with Australia’s North West Shelf (NWS), which Pertamina buys more frequently, but which was priced higher in this tender

* The cargoes are for Trans Pacific Petrochemical Indotama (TPPI), operator of a condensate splitter in Indonesia (Reporting by Shu Zhang; Editing by Tom Hogue)