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Indonesia’s Pertamina cuts Jan-April crude oil imports by 48 pct

Indonesia’s PT Pertamina has reduced crude oil imports for January-April by nearly a half from a year earlier, following a regulation to help reduce the country’s energy imports, the state energy firm said in a statement.

* Crude oil and condensate imports by Pertamina in January-April were 25 million barrels, down from 48 million barrels a year ago, company senior official Fajriyah Usman said in the statement

* Pertamina said it slashed cost of imports by $1.4 billion

* As of third week of April, Pertamina has signed deals with 32 oil contractors in Indonesia to buy around 137,000 barrels per day of crude and condensate, a significant part of which would come from PT Chevron Pacific Indonesia

* “With this supply, Pertamina no longer imports heavy and super heavy crude oil and only imports light and medium crude,” Usman said

* To help control the country’s widening current account deficit, the government last year regulated that Pertamina must prioritise domestic energy sources and oil and gas contractors in Indonesia are obliged to offer Pertamina their uncontracted outputs.
Source: Reuters (Reporting by Wilda Asmarini Writing by Fransiska Nangoy)

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