Pertamina launches market operation<\/p>\n
JAKARTA (JP): State-owned oil and gas company PT Pertamina
\nlaunched a massive market operation yesterday by dropping a large
\nquantity of lubricants at the gas stations across the city to
\nhelp stabilize the market.<\/p>\n
The operation, which is reportedly the first of its kind ever
\nstaged by Pertamina, also involved the company's dealers.<\/p>\n
Pertamina deposited eight kiloliters of lubricants while its
\ndealers distributed 20 kiloliters at 102 gas stations across the
\ncity.<\/p>\n
\"The market operation, which starts today, will continue until
\nthe market calms,\" said the head of the Jakarta and West Java
\noperation of Pertamina's provision and marketing unit, Harry
\nPoernomo S.<\/p>\n
Pertamina decided to stage the market operation following
\nreports that gas stations in Jakarta and its environs had begun
\nto run short of lubricants over the last few weeks.<\/p>\n
Some gas stations have even raised lubricant prices.<\/p>\n
The price of the Pertamina-made Mesran Prima lubricant rose to
\nbetween Rp 7,500 (63 US cents) and Rp 11,000 per liter-can some
\ndays ago at several gas stations, compared to its previous price
\nof Rp 5,700.<\/p>\n
Pertamina spokesman Ramli Djaafar has said the shortage
\noccurred because some people had bought up large amounts of
\nlubricants in a bid to profit from the situation following rumors
\nPertamina did not have enough lubricants and would soon raise
\nprices.<\/p>\n
Ramli said supply was plentiful and Pertamina had no intention
\nat present to raise the price.<\/p>\n
Harry said yesterday the supply shortage was an impact of the
\neconomic crisis.<\/p>\n
He said traders of imported lubricants controlled about 30
\npercent of the Jakarta and West Java market prior to the economic
\ncrisis but had stopped operations due the rupiah's sharp
\ndepreciation against the U.S. dollar.<\/p>\n
\"Pertamina has therefore had to supply a larger market,
\nincluding that previously filled by lubricant importers,\" Harry
\nsaid.<\/p>\n
The other cause of the shortage was that dealers faced
\nproblems distributing lubricants to retailers and gas stations
\nduring the days before and after the Idul Fitri holiday because
\nmost of their workers were on vacation, Harry said.<\/p>\n
\"Most dealers were in fact still on vacation yesterday. They
\nonly agreed to operate yesterday on our request.\"<\/p>\n
Pertamina sold 376,677 kiloliters of lubricants in the
\n1996\/1997 fiscal year, 34 percent of which or 125,923 liters was
\nsold in Jakarta and West Java.<\/p>\n
The company projects national demand will increase by 5.2
\npercent to 390,346 kiloliters in the 1997\/1998 fiscal year.<\/p>\n
Pertamina says its monthly supply of lubricants to Jakarta and
\nWest Java rose by 25 percent to 13,700 kiloliters in January.<\/p>\n
Pertamina's supply of lubricants for car users in Jakarta and
\nWest Java dropped by 7 percent to 5,996 kiloliters in January,
\ncompared with December's figures, but supply to industries rose
\nby 71 percent to 7,735 kiloliters in the same month. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pertamina-launches-market-operation-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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