Govt oks Pertamina's crude deal<\/p>\n
SINGAPORE: State-owned oil company Pertamina has obtained
\napproval from Indonesia's finance minister to proceed with a
\ncrude processing deal with Singapore Petroleum Co. (P.SPC).<\/p>\n
The deal is aimed at covering a shortfall in domestic
\nproduction when Pertamina's Balongan refinery undergoes
\nmaintenance while reducing its reliance on buying oil products
\nfrom the spot market.<\/p>\n
Pertamina's acting processing director, Dwi Kushartoyo,
\nconfirmed that Pertamina had received a letter from Indonesia's
\nFinance Minister Boediono approving the deal.<\/p>\n
Under the deal, SPC will process 62,500 barrels a day of Minas
\ncrude and 30,000 bpd of Iranian light crude on behalf of
\nPertamina for two months, Dwi said.<\/p>\n
Meanwhile, the 125,000 bpd Balongan refinery has started
\ntrimming its operations to prepare for a 70-day turnaround
\ndelayed from Aug. 1, said a Pertamina spokesman.<\/p>\n
Pertamina and SPC are still discussing the exact commencement
\ndate of the deal, which has been partially effected, as the
\nrefinery shutdown process started this week.<\/p>\n
\"But it will likely start in September,\" said Dwi.--Dow Jones<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/govt-oks-pertaminas-crude-deal-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }