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View all search resultsEconomy in brief: Pertamina to pull plug on Petral
State oil and gas company Pertamina confirmed on Wednesday that it would shut down problematic Pertamina Energy Trading Limited (Petral), a Singapore-based subsidiary mostly engaged in oil and gas brokering
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S
tate oil and gas company Pertamina confirmed on Wednesday that it would shut down problematic Pertamina Energy Trading Limited (Petral), a Singapore-based subsidiary mostly engaged in oil and gas brokering.'This year will see the end of Petral,' Pertamina president director Dwi Soetjipto told the House of Representatives.
Dwi explained that the task of purchasing oil and gas for Pertamina would be carried out by the company's integrated supply chain unit.
Critics had previously pointed to the lack of transparency and good governance in Petral and called on the government to close the company.
