Pertamina's crude imports decline 35 percent

Pertamina's crude imports decline 35 percent

Illustration - Pertamina oil refinary

Jakarta (ANTARA) - State oil and gas company Pertamina curbed its crude oil imports by nearly 35 percent since early this year by purchasing more domestic crude and condensate.

Last year, Pertamina had imported 339 thousand barrels of oil per day (mbpd). The figure has dropped by 35 percent to 220 mbpd during the January-June 2019 period.

According to data from Pertamina as of August 2, 2019, the company had signed contracts with 39 oil and gas contractors (KKKS) for the purchase of 123.6 thousand barrels of oil per calendar day (MBCD).

Pertamina Vice President for Corporate Communication Fajriyah Usman noted that the purchase of domestic crude oil and condensate from 39 KKKS rose significantly as compared to that of 2018.

"From the total volume, we will optimize supplies in accordance with the need, type, and volume as well as the business agreements that we have reached," he stated.

The crude oil and condensate will be delivered in accordance with the schedule. The delivery schedule for crude oil and condensate from KKKS will differ from one another, he noted.

In the same way, the type of crude delivered to Pertamina will also be different from one another, based on the requirements at oil refineries, he remarked.

The delivery of crude and condensate will have an impact on the reduction of Pertamina's crude oil imports this year.

"With the import of crude oil, reaching 220 MBPD, the ratio of imported oil to domestic lifting reaches 25 percent to 75 percent. This shows signs of improvement, with the ratio of imports to domestic purchase running into 37 (339 MBPD) in 2018 to 63 percent (571 MBPDs).