El Nusa may lose Pertamina monopoly<\/p>\n
JAKARTA (JP): Minister of Mines and Energy Kuntoro
\nMangkusubroto said he would abolish the monopoly given to PT EL
\nNusa for the maintenance of the state oil and gas company
\nPertamina's refineries.<\/p>\n
\"If necessary, (I will order) Pertamina to let go of the
\ncompany,\" Kuntoro said Tuesday at a hearing with the House of
\nRepresentatives Commission V for industry, mining, trade,
\nmanpower, cooperatives and the environment.<\/p>\n
Kuntoro said all future contracts with Pertamina would have to
\nbe made through tenders in order to select bidders with the
\nlowest price offer.<\/p>\n
El Nusa is 51.5 percent owned by Pertamina and 48.5 percent by
\nPT Tridaya Esta, which is controlled by ex-president Soeharto's
\nson Bambang Trihatmodjo and legislator Indra Bambang Utoyo.<\/p>\n
Although El Nusa is engaged in oil and gas exploration and
\nproduction, telecommunications, oil refineries, oil product
\nretail and infrastructure development, the maintenance of the
\nrefineries generate most of its revenues.<\/p>\n
The company has enjoyed monopolies in other Pertamina
\noperations on top of its refinery monopoly.<\/p>\n
Pertamina currently runs nine refineries located in Pangkalan
\nBrandan, North Sumatra; Dumai and Sungai Pakning, Riau; Musi,
\nSouth Sumatra; Balongan, West Java; Cilacap and Cepu, Central
\nJava; Balikpapan, East Kalimantan; and Kasim, Irian Jaya.<\/p>\n
El Nusa president Aswad Dipo recently told The Jakarta Post
\nthe company enjoyed Rp 170 billion in annual revenues from the
\nmaintenance of the refineries.<\/p>\n
The company is considered one of Pertamina's best-performing
\nsubsidiaries and plans to go public this year.<\/p>\n
El Nusa is also among seven companies which hold exclusive
\ntrading rights for the high-octane Premix and Super TT gasolines
\nsold domestically.<\/p>\n
The other traders are Gigantrax, Sinar Pedoman Abadi, Hiswana
\nMigas Cooperative, Bhakti Migas Utama, Humpuss Trading and
\nPanutan Selaras.<\/p>\n
Humpuss Trading is controlled by Soeharto's son Hutomo Mandala
\nPutra, alias Tommy, while PT Panutan Selaras is a subsidiary of
\nthe Panutan Group, chaired by Soeharto's eldest son Sigit
\nHarjojudanto. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/el-nusa-may-lose-pertamina-monopoly-1447893297",
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