TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Nine companies to sell export quota of crude oil to Pertamina
Ministerial Regulation No.42/2018 stipulates that Pertamina must purchase domestic crude oil.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Oil and Gas Director General Djoko Siswanto (Courtesy of/The Energy and Mineral Resources Ministry)
S
tate-owned oil and gas holding company Pertamina has made agreements with nine private oil companies to buy their export quotas of crude oil production to help reduce crude oil imports.
“I just received a report from Pertamina about its agreements with nine private oil companies,”
Energy and Mineral Resources Ministry Oil and Gas Director General Djoko Siswanto said in Jakarta on Tuesday.
He failed to mention the companies and the volume of oil involved.
Pertamina spokesperson Adiatma Sardjito confirmed the deals, but said the volume of crude oil involved was not significant.
“We are in process of sealing a deal with one company that involves a large volume,” he told the media on Tuesday.
Adiatma did not mention what currency the payments would be in, while Djoko said it was not the government that would decide on the currency.
Adiatma said the nine companies would start supplying crude oil to Pertamina next year because Pertamina’s integrated supply chain, a unit in charge of crude oil procurements, counted crude purchases per annum.
The agreements are in line with Ministerial Regulation No.42/2018 issued in September, which stipulates that Pertamina must purchase domestic crude. The regulation also requires private oil firms to offer their oil production to Pertamina. (bbn)
