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Jakarta Post

Indonesia imports more fuel in 2018

Indonesia imports more fuel in 2018 The types of fuel available at a Pertamina gas station. ( Ahmad)
Stefanno Reinard Sulaiman
Jakarta   ●   Thu, September 27, 2018 2018-09-27 11:26 954 882ab4bc56dbda08a069b308774ba8f2 1 Business pertamina,fuel,imports,increase Free

State-owned energy holding company Pertamina’s oil imports stood at an average of 393,000 barrel per day (bpd) up to August, 6 percent higher than in the entire year of 2017, when it imported 370,000 bpd on average.

The company’s official presentation, circulated among the media on Wednesday, shows that Pertamina’s gasoline imports stood at 316,000 bpd, or 83 percent of total fuel imports, while imports of gasoil and avtur (jet fuel) reached an average of 41,000 and 36,000 bpd, respectively.

The figures are still below Pertamina’s total production of 720,000 bpd, according to the presentation, titled “Pertamina Finance Is Highly Influenced by the Dynamics of Global Crude and Fuel Products”.

In line with the data, Pertamina’s average fuel supply reached 1.157 million bpd up to August, or 50,000 bpd higher than the average in 2017, the highest of which was 1.1 million bpd.

Pertamina’s average crude import decreased by 2.5 percent to 351,000 bpd up to August, from 360,000 bpd on average in 2017.

Meanwhile, crude supply from the domestic sector (excluding Pertamina’s supply) reached 422,000 bpd, or 17.2 percent higher than last year’s average.

But crude from Pertamina’s field has dropped 18.7 percent to 134,000 bpd, placing the firm’s total crude supply at 909,000 bpd as of August.

On Wednesday, the price of global benchmark Brent crude stood at US$81.61 per barrel, compared to $44.82 per barrel in June 2017. Meanwhile the Indonesian Crude Price (ICP) was set at $69.36 per barrel in August. (bbn)