ASEAN KEY DESTINATIONS
Pertamina to import more fuel in 2015
With domestic energy consumption on the rise, state owned oil and gas company PT Pertamina will import more fuel this year, most of it in the form of inexpensive Premium gasoline.
The company plans to import 201 million barrels of fuel, a 30 percent increase from last year’s import volume of 153.7 million barrels. The imported fuel will consist of gasoline, aviation turbine fuel (avtur) and high-speed diesel.
Some 128 million barrels of RON 88 gasoline, locally known as Premium, will meet some 63 percent of demand. The volume is an 11 percent increase from the amount of Premium imported last year.
Pertamina is also planning to import some 9.8 million barrels of avtur in 2015, or around 34 percent of expected demand and 50 percent more than the amount imported last year.
Meanwhile, for high-speed diesel, as many as 63.1 million barrels will be imported this year, representing some 33 percent of estimated consumption — a two-fold increase from last year’s import volume.
Data also showed that Pertamina will import 306,460 barrels of crude oil per day to meet about 36 percent of national demand.
Pertamina marketing director Ahmad Bambang said the company, through its unit, Integrated Supply Chain (ISC), had yet to determine a timetable for the fuel-procurement tenders.
However, he said the tender for petroleum products would likely amount to 9 million barrels per month of gasoline — up to 2 million barrels of Premium gasoline and around 5 million barrels of diesel per month.
In addition, a tender for a short-term supply of crude oil was held last January. Two winners have been announced, namely the Swiss-based Vitol and Azerbaijan state oil firm Socar. Vitol will deliver 1.9 million barrels of oil and Socar 1.2 million barrels.
In addition, Pertamina will receive 950,000 barrels per month from Angola-based company Sonangol through May this year.
Indonesia, a former member of the Organization of Petroleum Exporting Countries (OPEC), has become a net importer of crude oil due to depleted domestic fields and a production capacity that falls short of the national demand.
This year, the government has set a production target of 825,000 barrels of oil per day (bopd), an increase from the 793,570 bopd produced last year, according to figures from the Upstream Oil and Gas Regulatory Task Force (SKKMigas). The regulator’s chief, Amien Sunaryadi, said last week that current national output stood at around 760,000 bopd.
SKKMigas is under pressure to ensure that the Banyu Urip field in Cepu block, Central Java, will reach peak production in the fourth quarter of the year to help the country meet its output target of 825,000 bopd.
“The development in Cepu will be completed in June and is expected to reach peak production of 165,000 bopd,” Amien said.
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