Pertamina Seeks to Process Crude Overseas to Reduce Import Costs
- In talks with Asian refiners to process its Basrah Heavy crude
- Plans to ship fuel from deal to cut Indonesia's energy costs
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Indonesia’s state-owned energy company may work with a few refineries in the region as it seeks to reduce the cost of importing oil products and meet a shortfall in processing capacity.
PT Pertamina is in talks with refiners in India, China, Japan, Korea and Singapore to process about 800,000 barrels a month of Basrah heavy crude from its West Qurna-1 operation in Iraq, said Daniel Purba, senior vice president at Integrated Supply Chain, the company’s trading unit. It will send the oil to an overseas plant in shipments of either one million barrels or two million barrels, and pay the fee to process it into either 88-RON gasoline or 92-RON gasoline, Purba said at a press conference in Jakarta on April 4.