President Director of PT Pertamina (Persero) Nicke Widyawati plans to buy oil raw from Russia. The reason is that the price of oil from red bear countries has the potential to be cheaper in the midst of the conflict with Ukraine and the rain of sanctions from western countries.
“At a time when prices are now in a geopolitical situation, we see that there are opportunity to buy from Russia at a good price,” Nicke said in a hearing (RDP) with Commission VI DPR, Monday (28/3).
He said his party had coordinated with the Ministry of Foreign Affairs (Kemenlu) and Bank Indonesia (BI).
“For this matter, politically there is no problem as long as the companies we deal with are not subject to sanctions,” said Nicke.
Later, Pertamina will buy oil from Russia separately business to business (B to B). Then, the crude oil will be processed at the Balongan Factory.
However, oil purchases are still awaiting the revamping of the Balongan Refinery which is targeted to be completed in May 2022. Currently, the Balongan Refinery can only accept crude oil with low sulfur levels such as that produced by Saudi Aramco.
“With this revamping, one of which is completed in May 2022 Balongan Factory, then Balongan is more open, more flexible to use any type of crude,” explained Nicke.
For information, crude oil prices have jumped sharply in the last month since the Russo-Ukrainian war. Currently, the price of crude oil has penetrated US$ 100 per barrel.
Previously, oil prices were stable below the level of US$ 100 per barrel.
quote Betweenthe price of Brent crude oil futures for May delivery minus 6.8 percent to US $ 112.48 per barrel.
Meanwhile, West Texas Intermediate (WTI) crude futures for April delivery slumped 7 percent to US$105.96 per barrel.
(aud/sfr)
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