Agustiyanti | May 22, 2012
State Enterprises Minister Dahlan Iskan said on Tuesday that Pertamina
Energy Trading Ltd, a subsidiary of state oil and gas company Pertamina,
will not be disbanded — but it will no longer be allowed to sell oil to
the state firm.
Pertamina Energy Trading, or Petral, is 99.83
percent owned by Pertamina and is registered in Hong Kong, but its main
office is in Singapore. Dahlan said in February that the government was
considering whether to close down Petral, which many said would only add
to the cost of oil purchases.
“Petral does not need to be closed down. Its function will change,” Dahlan said.
He
said that Pertamina will no longer go through Petral to purchase crude
oil and fuel, but should go straight to the refineries or the producers.
“Petral can remain alive by buying oil from Kuwait and selling it to
Thailand, or buying oil from Bahrain and selling it to the Philippines,”
Dahlan said.
Dahlan added that no date has yet been set for when Pertamina will stop buying oil from Petral.
http://www.thejakartaglobe.com/business/pertamina-energy-trading-will-remain-intact-minister/519387
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