Some domestic needs of crude oil are supplied through Pertamina’s portfolio of production, that is its upstream sub-holding, and also from the production of oil and gas contractors (KKKS) in Indonesia.
Jakarta (ANTARA) - PT Pertamina pursues consistence in maintaining its operational performance both in the upstream and downstream domains to increase energy security and stabilize supply for the national consumption needs despite a global crude oil price hike.

The state-owned energy company has affirmed its supply flexibility since the sources of crude oil, fuel products, and liquid petroleum gas (LPG) are varied either from the country or abroad.

“Some domestic needs of crude oil are supplied through Pertamina’s portfolio of production, that is its upstream sub-holding, and also from the production of oil and gas contractors (KKKS) in Indonesia,” the company’s corporate communication vice president, Fajriyah Usman, noted in a statement here on Friday.

The crude oil price currently touched US$100 per barrel, driven by the recovered global demand on energy and the growing geopolitical tensions between Russia and Ukraine.

Pertamina will continue to monitor the global energy condition that has impacts on the company’s business in a bid to guarantee the national energy security, including fuel and LPG supplies, she noted.

The enterprise will conduct a long-term procurement mechanism and a short-term adjustment for crude oils, fuel products, and LPG in accordance with the public requirements, she remarked.

Apart from energy distribution across Indonesia, Pertama should also take precautionary measures pertaining to the tensed dynamics globally that will potentially apply pressure on the financial performance of the downstream sector, Usman noted.

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The company will again continue to monitor, review, and evaluate the global oil and gas markets in addition to coordinating with all stakeholders on its strategic impacts, she stated.

“(Such efforts) include setting (fair prices of) non-subsidized fuels to ensure a balanced market condition and affirming the company’s financial capability to guarantee fuel supplies to all citizens nationwide,” she remarked.

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Translator: Sugiharto Purnama, Juwita Tris
Editor: Rahmad Nasution
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