The Deputy Minister of Energy and Mineral Resources (ESDM) of Indonesia is reportedly approaching companies, which traditionally import marine fuel oil (MFO) into the country for consumption, to use avails produced by Indonesian state-owned oil company Pertamina.
"The government is trying to produce Pertamina MFO. It can be bought by mining companies, ships that need MFO,” Arcandra Tahar told press on Friday as quoted by Jitu News.
ESDM is currently in talks with PT Vale Indonesia Tbk and other companies over the development. Nicolas Kanter, President Director of Vale’s Indonesia subsidiary, was at the ministry office on Friday for such talks but did not provide comment.
Tahar, meanwhile, noted Pertamina producing 1.9 million kilolitres (kl) of 180 centistokes (cSt) grade in 2018 while fuel oil imports by various firms totalled 400 kl in the same year; he hopes to replace the imported volume worth US $200 million with similar material from Pertamina’s refineries.
“Pertamina will offer prices that can compete with Singapore suppliers,” he notes while adding the state refinery will be able to produce fuel oil of similar specifications when compared to the imported fuel oil avails.
The minister on December 28, 2018 held a meeting between PT Pertamina (Persero), PT Vale Indonesia, PT Cosmic Indonesia, PT Cosmic Petroleum Nusantara, and PT AKR Corporindo Tbk; the meeting saw PT AKR Corporindo Tbk agreeing to buy Pertamina fuel oil at a future date.
Photo credit: Pertamina
Published: 11 February, 2019
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