Four companies which traditionally import marine fuel oil (MFO) into Indonesia will reportedly be purchasing avails produced by Indonesian state-owned oil company Pertamina.
The firms are publicly listed nickel miner PT Vale Indonesia, local fuel trader PT AKR Corporindo, fuel producer PT Cosmic Petroleum Nusantara and Batam, Riau Islands-based fuel trader PT Yavindo Sumber Persada, according to the Jakarta Post.
“Vale will start [to buy MFO from Pertamina] from April as their previous contract [for MFO imports] ends in March,” said Deputy Energy and Mineral Resources Minister Arcandra Tahar on Wednesday while adding Pertamina’s stocks will be able to meet the increased demand for MFO.
Buying marine fuel oil from Pertamina also means the four companies getting cheaper deals, he notes.
The 400,000 kilolitre (kl) annual volume of bunker fuel imported by the four firms is worth approximately US $200 million.
“They had opted to import MFO [rather than buying from Pertamina], because previously there were hassles in the form of tenders and so on. Now we've resolved it by mediating the process,” explained Tahar.
Photo credit: Pertamina
Published: 15 February, 2019
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