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.

Jakarta Post

‘We have many tanks to fill’: Indonesia to make the most out of globally low oil prices

The Jakarta Post Image
Pertamina president director Nicke Widyawati (right) fills up a car in Tasikmalaya, West Java, in this undated photo. Nicke said low oil price will be good for Pertamina as it would buy the commodity at a cheaper price.(Antara/Adeng Bustomi)
Norman Harsono
PREMIUM
Jakarta   ●   Tue, March 10, 2020

Indonesia aims to make the most out of falling global crude oil prices by fulfilling domestic oil demand without swelling the country’s gaping and growing trade deficit.

The Energy and Mineral Resources (ESDM) Ministry acting oil and gas director general Ego Syahrial said on Monday that the government expected Indonesia’s top oil company, state-owned Pertamina, to “buy as much oil as it can,” preferably under long-term purchasing contracts, while global prices are flat out at a four year low.

“Oil prices have plunged, we should enjoy it,” he told reporters in Jakarta, “We have many tanks to fill.”

Read also: Indonesia aims to doub...

to Read Full Story

SUBSCRIBE NOW

Starting from IDR 55,000/month

  • Unlimited access to our content on web and app
  • No advertising, no interruption
  • A bonus subscription to share
  • Bookmark and night mode functions on app
  • Subscription to our newsletters

We accept