Despite Increase in Global Oil Prices, Pertamina Ensures Sufficient Indonesia Energy Supply

Jakarta, March 2, 2022 – The increase in global crude oil prices has penetrated USD 110 per barrel per day following the increasingly heated Russia-Ukraine conflict. World crude oil price is the highest since 2014, which averaged USD 93.17 per barrel.

It corresponds to what President Joko Widodo remarked on Tuesday, March 1, 2022, on the rise in global crude oil prices driven by the Russian-Ukraine conflict. President Jokowi emphasized that this increase in oil prices must be watched out for to prevent energy shortages.

"There is energy scarcity. Even before the war, the price went up because of scarcity. Because of the war, the price went up again. Now the price per barrel is above 100 US dollars, which previously was only 50-60 (US dollars)," said Jokowi.

Vice President of Corporate Communication of Pertamina, Fajriyah Usman, said Pertamina would continue to monitor the increase in world crude oil prices and its strategic impacts. However, what is certain is that Pertamina seeks to maintain the national supply of fuel and LPG, ensure the distribution to all Indonesians, and ensure the sustainability of the national energy ecosystem amid the global crude oil prices challenge that continue to soar. 

"Pertamina's operational activities from upstream, refinery to downstream, continue to run well to maintain national energy security," said Fajriyah.

According to Fajriyah, with this effort, Pertamina ensures that the national oil and gas ecosystem can also run well so that it continues to be a driver of national economic growth.

"With the support of stakeholders, Pertamina will continue to improve its performance in facing the challenges of global energy dynamics and the world's energy transition to ensure national energy security and independence, which are indispensable for economic growth after the Covid-19 pandemic," said Fajriyah.**