Crude Price Reach USD 100 Per Barrel, Pertamina Ensures Sufficient Fuel & LPG Supply
Jakarta, February 25, 2022 – PT Pertamina (Persero) continues to monitor the world's oil and gas market development, currently rising sharply. The trend in crude oil prices, which has reached USD 100 per barrel, is influenced by the recovery in global energy demand and the impact of rising political tensions in Eastern Europe between Russia and Ukraine.
Vice President of Corporate Communication of Pertamina, Fajriyah Usman, explained that Pertamina continues to monitor global energy conditions that affect the company's business to ensure national energy security is guaranteed, including the supply of fuel and LPG.
According to her, Pertamina consistently maintains upstream to downstream operational performance to improve energy security and maintain supply stability for national consumption needs. Currently, Pertamina has various sources of crude oil, fuel, and LPG products supply. Both from within the country and many other countries. Thus, supply is flexible.
"Some of the domestic demand for crude oil is produced through Pertamina's portfolio, namely Subholding Upstream, and is also supplied by KKKS production in Indonesia," said Fajriyah.
The procurement mechanism is carried out on a long-term basis as well as short-term adjustments, both for crude oil and fuel and LPG products, according to the demand and with careful planning.
She also stated that in addition to ensuring the energy distribution throughout Indonesia, Pertamina also had to anticipate the current global market dynamics, which could potentially put pressure on the company's financial performance from the downstream sector.
"Therefore, Pertamina will continue to monitor developments in the world oil and gas market. Pertamina will also conduct studies, evaluate, and coordinate with all stakeholders regarding its strategic impact. It includies the determination of non-subsidized fuel prices, to maintain a balanced market condition and ensure the company's financial capacity to guarantee fuel supply to all Indonesian up to remote parts of the country," she said.**