"The role of national banks in the oil and gas industry is rising."Jakarta (ANTARA News) - Upstream Oil and Gas Regulatory Special Task Force SKK Migas Chief Rudi Rubiandini appreciates the increasing role and contribution of national banks in advancing the oil and gas industry.
"The role of national banks in the oil and gas industry is rising," said Rubiandini here Thursday.
Rubiandini said that this is shown from the increase in oil and gas industry transactions through the national banks which account for about Rp240 trillion by March 2013. Of these figure more than Rp90 trillion are transactions in the procurement of goods and services.
Based on the task force`s data, the value of procurement of goods and services reached around Rp160 trillion in 2012 where about 60 percent used local content.
With the increasing role of the national banks, it is expected that it will make foreign oil and gas companies to look at local banks.
Rubiandini said that actually regulation that requires oil and gas industry to use national banks service has been established since a few years ago.
He also said that there are many roles that can be taken from the national banks, especially in considering the amount of bank deposits that are not channeled through the national credit mechanism.
Rudi therefore expects that banks can disburse more loans to support the development of the oil and gas industry.
"The increasing role of national banks showed the spirit of nationalism that continues to grow," he said.
He argues that the Rp1 billion funds given to the oil and gas industry would give added value to the national economy up to around Rp5 trillion.
Moreover, the oil and gas industry is also known as one of the prime movers of industry in Indonesia so that the support of the national banking system is also highly desirable.
To that end, the oil and gas industry is also expected to add more funds from their company to be placed at larger national banks.
(Uu.A050/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2013
