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ENOC bought the Duri cargoes for loading between June 2012 and May 2013 at a premium of about $5 a barrel to its Indonesia Crude Price, they said. It can lift 200,000-450,000 barrels of Duri each month.
ENOC is likely to re-sell the cargoes to Japan, traders said, as only Japanese utilities can afford Duri at this premium.
BPMIGAS last sold Duri crude for December 2011 to May 2012 at a premium close to $5 a barrel to its ICP.