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Tag: pertamina

  • Go-Jek launches fuel delivery service

    Go-Jek launches fuel delivery service

    Go-Jek, in partnership with Indonesia’s oil major Pertamina, has launched an on-demand fuel-delivery service. Called Go-Pertamina, it brings fuel to users from the nearest Pertamina gas station. The service is available in South and Central Jakarta from 8 a.m. to 8 p.m. daily. It does not serve orders on toll roads, basements, or other enclosed areas. Given that Go-Jek has a large network of drivers who need to top up their fuel regularly, they could become some of Go-Pertamina’s biggest users.

    Go-Pertamina is part of the Indonesian ride-hailer’s Go-Life app, which offers on-demand massages, cleaning, haircare, and more. Go-Jek also recently launched a daily deals marketplace.

    Go-Jek has been expanding regionally. It has launched in Thailand and Vietnam and is set to launch in Singapore within a month. Its expansion into the Philippines, however, has hit a regulatory snag.

    It has raised about US$2.1 billion from investors, even as Grab has claimed to have outpaced Go-Jek in Indonesia’s ride-hailing market.

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  • Indonesia Pertamina Profits for First Half of 2018 Seen at Multi-Year Low

    Indonesia Pertamina Profits for First Half of 2018 Seen at Multi-Year Low

    Pertamina is expected to post its lowest first-half profit in four years for 2018, an official said, with the state energy company squeezed by government fuel polices, higher oil prices and a 9 percent slide in the rupiah.

    Net profit at Pertamina is expected to come in at less than Rp 5 trillion ($336 million) in the first six months of 2018, Deputy State-Owned Enterprises Minister Fajar Harry Sampurno said at the House of Representatives in Jakarta.

    The forecast was a result of oil prices climbing while Pertamina’s “downstream compensation was insufficient,” he said.

    The government, which sets the levels at which the company can sell oil products, has sought to shield the public from rising prices, promising not to raise some consumer fuel prices ahead of elections due in 2019.

    But the policy has dented Pertamina’s finances and cut its means of spending on much-needed infrastructure.

    The company’s latest forecast for its first-half profit is well below half of the company’s full-year 2018 targeted profit of Rp 33 trillion and its audited full-year 2017 profit of Rp 34 trillion, as reported in a legislative hearing on Thursday.

    Pertamina’s full-year profits have not been below $10 billion since at least 2005.

    The company’s previous chief executive was removed in April after repeated clashes with the government over fuel price controls that were estimated to have cost the company more than $1.4 billion last year.

    To ease pressure on the rupiah, which slipped to its lowest since 1998 this week, the government of President Joko “Jokowi” Widodo has also asked Pertamina to rein in capital goods imports for infrastructure projects.

    “All projects that have not reached financial close will be delayed,” Fajar said, referring to his office’s latest “guidance” on Pertamina’s spending plans.

    Pertamina finance director Arief Budiman said the company was revising its 2018 profit target, as well as its work plans and budget.

    “It will likely decline,” Arief said, referring to Pertamina’s 2018 profit target revision, but not giving a figure.

    The company’s work plans and budget usually include operating expenditure but can also include capital spending plans.

    While higher oil prices have yielded Pertamina better returns from its oil and gas output, they have also increased Indonesia’s fuel bill, as a net oil importer, especially with the rupiah slumping.

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  • Indonesia’s Pertamina EP Discovers New Gas and Oil Reserve

    Indonesia’s Pertamina EP Discovers New Gas and Oil Reserve

    Pertamina Exploration and Production, the exploration arm of state energy firm Pertamina, announced on Thursday (23/08) a discovery of a new gas, oil and condensate reserve in West Java.

    The company, known also as Pertamina EP, found the reserve while drilling the Akasia Maju wells at the company’s Jatibarang field in Indramayu. The operation was completed on Monday, at a final depth of 2,517 meters.

    In a production test, from one of the wells the company managed to extract 1,700 barrels of oil per day. Currently, the Jatibarang field produces 5,180 barrels of oil per day. The company wants increase it to 5,890 barrels.

    “Thank god all the effort we’ve put into it gave positive results. We’re certain that with our synergy and hard work we can contribute to the nation’s achievements in production,” Pertamina EP exploration and new discovery project director Achmad Alfian Husein, said.

    The discovery also opens the possibility of further exploration of the area.

    Jatibarang field has been in operation since 2017. Pertamina EP currently manages 50 onshore structures and one offshore, with 170 oil and gas producing wells in the field.

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  • Indonesia’s Pertamina to Invest $237m in Sanga Sanga Oil Block

    Indonesia’s Pertamina to Invest $237m in Sanga Sanga Oil Block

    State-owned energy company Pertamina plans to invest $237 million over the course of three years to develop the Sanga Sanga oil block in East Kalimantan, it announced on Wednesday (08/08).

    Pertamina has just acquired the block from US-based Virginia Indonesia Company (VICO), which was operating it for four decades.

    According to upstream oil and gas regulator SKK Migas, the Sanga Sanga oil block currently produces 10,753 barrels oil equivalent per day (boepd). The block, located in Kutai Kertanegara district, also produces 80.7 million metric standard cubic feet per day (mmscfd) of gas. It has an estimated cumulative production of 258 million barrels of oil equivalent (mmboe).

    A senior Pertamina executive said the company will use this investment to increase production in the block by drilling 29 new wells next year.

    Meidawati, upstream strategic planning, portfolio and evaluation senior vice president at Pertamina, said the block offers a great potential as Pertamina will maintain its production and also will search for new reserves.

    “The Sanga Sanga block will be later integrated with the company’s other blocks such as Pertamina EP and Mahakam, so in the end it would become cost effective for the company,” Meidawati  said in a statement on Wednesday (08/08).

    Sanga Sanga will be operated by Pertamina’s subsidiary, Pertamina Hulu Sanga Sanga.

    “As representatives of the government, we appreciate VICO Indonesia’s contribution and hard work as Sanga Sanga oil block’s operator. Pertamina is now preparing for the transfer and will continue its operations,”  SKK Migas head Amien Sunaryadi said.

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  • Pertamina Needs Up to $70m to Support National Single-Price Fuel Scheme

    Pertamina Needs Up to $70m to Support National Single-Price Fuel Scheme

    State-owned energy company Pertamina needs to spend around Rp 800 billion to Rp 1 trillion ($70 million) this year to support the government’s single-price fuel scheme in 54 of the country’s most remote areas, a minister said on Monday (08/01).

    The administration of President Joko “Jokowi” Widodo initiated the single-price fuel scheme in October 2016 to provide cheap, subsidized fuel in remote areas to help spur growth.

    According to Energy and Mineral Resources Minister Ignasius Jonan, Pertamina needs as much as Rp 1 trillion to help fund logistical, operational and development costs to distribute the fuel in the country’s hard-to-reach districts.

    Pertamina has been tasked with developing a total of 150 fuel distribution facilities by the end of 2019, estimated to cost about Rp 3.8 trillion in total. The government targets to offer the same fuel prices across the country at Rp 5,150 per cubic meter for subsidized diesel and Rp 6,450 per cubic meter for low octane “Premium” gasoline.

    “[Subsidized] fuel products are very important, especially in the frontier, outermost and most remote areas, in which the disparity [with big cities] is pretty high. This is a three-year program as [reaching] the areas is not easy,” Jonan said in a press conference on Monday.

    Since former President Susilo Bambang Yudhoyono’s administration, the government has continuously liberalized fuel distribution businesses to the private sector from, previously, Pertamina.

    Last year, the state-controlled company, along with privately owned chemical distribution company AKR Corporindo, built a total of 57 fuel distribution facilities: Pertamina developed 54 of those facilities. In total, the new facilities have a combined distribution capacity of 48,000 kiloliters per year.

    However, last year, distributors from Pertamina and AKR only distributed 11,000 kiloliters of Premium gasoline and 6,000 kl of subsidized diesel.

    For the 2018-2022 period, the government has appointed Pertamina and AKR to procure subsidized fuel products in the country.

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  • Pertamina boosts production with new technology

    Pertamina boosts production with new technology

    State-owned oil company Pertamina EP (a subsidiary of Pertamina) is using the underbalance drilling new technology to boost its oil and gas production.

    The technology is being used as a new strategy and innovation to exploit production at the Jatibarang old oil field, which is being cultivated since 1972.

    The Jatibarang field includes both onshore and offshore fields, Jatibarang Oil Field Manager Herman Rachmadi said in Jatigarang, Friday.

    He revealed that the Jatibarang field was divided into nine structures, namely the Sindang, the Karangbaru, the Randegan, the Cemara, the Tugu Barat, the Gantar, the Waled Utara, the Kandanghaur and the X-ray structure for the offshore field.

    At the Jatibarang structure, the drilling work is done using the underbalance drilling technology. “The depth target of wells with this technology is 2,000 meters and will be done for a period of two months,” he affirmed.

    The other strategy and programs used in the Jatibarang field to increase oil and gas production is the repair program, fracturing, well maintenance, conversion lifting and stimulation.

    This year, Jatibarang is handling the maintenance of 30 wells, 59 intervention wells and 26 workover wells.

    PT Pertamina EP is also carrying out stimulation programs in wells that experience sedimentation and an increase in the water content.

    Currently, the average production of Jatibarang is 5,500 BOPD. The structure which significantly contributes to the production is the X-ray structure with a production of 2,100 BOPD, and the Jatibarang structure with a production of 1,000 BOPD.

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  • Pertamina to acquire more oil and gas blocks abroad

    Pertamina to acquire more oil and gas blocks abroad

    State-owned oil and gas company PT Pertamina is seeking to acquire more oil and gas blocks in the country and abroad to meet its production target set by the government.

    “Operations abroad are expected to contribute 33 percent to the companys target of production of 1.9 million barrel oil equivalent per day in 2025,” its Upstream Director Syamsu Alam said in a media gathering here on Monday.

    The company would also be as aggressive in acquiring oil and gas blocks in the country, Syamsu said.

    Syamsu said currently Pertamina already has oil and gas blocks in operation in 12 countries such as in Algeria, Iraq and Malaysia, the first to operate , followed by ones in Nigeria, Tanzania and Gabon.

    Pertamina is preparing development of eight termination blocks in 2018 already handed over by the government to Pertamina including one in Sanga Sanga, East Kalimantan and OSES.

    Domestic assets are also optimized, Syamsu said citing the project of PHE WMO Integration, drilling of Parang Nunukan, Randugunting, enhanced oil recovery (EOR) of old wells.

    Indonesia is currently the 16th largest economy in the world with gross domestic product (GDP) at US$941 billion . In 2050, it is expected to break into the ranks of four largest after China, the United States, and India with GDP predicted at US$15.432 billion.

    Indonesia, therefore, would need support of large supply of energy , Syamsu said.

    In 2015 the countrys energy output reached 354 million tons equivalent oil including 271 million tons of coal and 113 million tons of oil, gas and renewable energy.

    While consumption of oil and gas is still high, production is decreasing with the shrinking known oil and gas reserves .

    Although Indonesia still has 60 oil and gas basins , the countrys oil reserves are ranked only the 26th in the world at 4 billion barrels. Similarly the countrys gas reserves , Indonesia is the 14th largest in the world with reserves of 100 TCF.

    The policy of Pertamina to acquire more oil blocks abroad to increase its reserves will contribute to guaranteeing energy supply in the country .

  • Pertamina allocates US$190 million for Mahakam exploration

    Pertamina allocates US$190 million for Mahakam exploration

    State-run oil and gas company Pertamina has allocated US$190 million for exploration of Mahakam Block in East Kalimantan.

    “The fund has been prepared, but it would not be that easy to process it. We are still calculating the tax and we could not give the fund yet to the blocks operator Total E&P Indonesie,” Pertaminas upstream director Syamsul Alam said here, Thursday.

    PT Pertamina Hulu Mahakam (PHM), a subsidiary of PT Pertamina, has been appointed to operate the block to maintain production in the gas field.

    Pertaminas Corporate Vice President Wianda Pusponegoro said in a statement earlier this week, that the special task force for upstream oil and gas business (SKK Migas) has agreed on the bridging agreement (BA) scheme and funding agreement (FA) on Mahakam Block, signed by Pertamina, Total E&P Indonesia, and Inpex Corporation.

    “The agreement has clarified stakeholders commitment to smooth the transition of operators from Total to PHM. PHM has entered the Mahakam Block in 2017 under the BA and FA,” Syamsul said.

    The bridging agreement has regulated Total operations as the previous operator of Mahakam fields, for the interest of PHM.

    While the funding agreement would arrange the PHM funding mechanism on Total operation in accordance to the binding agreement.

    The agreements were signed on March 3, after an intensive discussion involving PHM, Total and Inpex.

    “PHM and Total would open a joint account,” she said.

    Totals contract ends on Dec. 31 this year, after operating the Mahakam field for 50 years.

    As an operator, Total has a 50 percent “participation right” while the remaining 50 percent is owned by Impex Corporation Ltd.

    Total is expected to produce 1,430 million standard cubic feet of gas per day and 53,000 barrels of oil per day in 2017.

  • Elia Massa Manik appointed as new Pertamina president director

    Elia Massa Manik appointed as new Pertamina president director

    State Enterprises Minister Rini Soemarno appointed Elia Massa Manik as the new president director of state oil and gas company Pertamina to replace Dwi Soetjipto who was relieved of his duties on February 3, 2017.

    Manik, who is appointed to the post of Pertamina president director based on State Enterprises Ministers Decree No. SK-52/MBU/03/2017, earlier held the post of president director of state-owned plantation holding company PT Perkebunan Nusantara (PTPN) III.

    The state enterprises ministers deputy for financial service business Gatot Trihargo presented the decree to Manik at the State Enterprises Ministry here on Thursday in the presence of Pertamina Chief Commissioner Tantri Abeng.

    Trihargo said Maniks appointment to the post of Pertaminas president director was based on his capacity to lead the company owing to his experience in bringing about transformation in several companies.

    “Elia Massa has experience in the fields of energy, banking, and agroindustry. His track record as the CEO of several companies is praiseworthy,” he noted.

    Abeng said Pertamina requires professionals, such as Manik, who can build solid teamwork in the company.

    Manik was born in Medan, North Sumatra, on May 1, 1965.

    He graduated from the school of civil engineering and environmental planning at the Bandung Institute of Technology and Master Business Management of the Asian Institute of Management in Makati, the Philippines.

    Manik began his career with state-owned enterprises when he was appointed as the CEO of PT Kertas Basuki Rahmat for the 2010-2011 period and the CEO of PT Elnusa Tbk, a subsidiary of Pertamina, for the 2011-2014 period. In addition, he was the former senior executive vice president of state lender Bank BNI for the 2015-2016 period.

    On April 13, 2016, he was appointed as the president director of state plantation holding company PTPN III, and since September 1, 2016, he has been the chief commissioner of PTPN IV.

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  • Pertamina`s profit up 209 pct in third quarter

    Pertamina`s profit up 209 pct in third quarter

    PT Pertamina made a net profit of US$2.83 billion in the third quarter of this year, 209 percent more than the US$914 million it made in the third quarter in the previous year.

    The president director of the state-owned oil and gas company, Dwi Soetjipto, on Tuesday credited the achievement to improved operational performance and efficiency as a result of various initiatives and breakthroughs.

    He said although the profit soared, corporate income was down 16.8 percent to US$26.62 billion from US$32 billion in the previous period due to a relatively lower price of crude.

    “What is encouraging is that net profit performance has been good as a result of enhanced efficiency and initiatives like the Breakthrough Project,” he added.

    Dwi Soetjipto noted that the company continued to improve its operational performance by increasing efficiency and successfully cut costs up to 27 percent in the first month of this year.

    “Until September 2016, around US$1.6 million had been saved through Breakthrough Projects,” he revealed.

    The companys downstream performance in the third quarter reached 646,000 barrels of oil equivalent per day, consisting of 309,000 barrels of oil and 1,953 mmscfd of gas per day.

    This was 12.3 percent more compared to the same period before.

    Meanwhile, the geothermal power production reached 2,233 GwH electricity equivalent.

    He stressed that the company continued to develop infrastructure including gas, processing and marketing infrastructure.

    Several projects such as Gresik-Semarang, Muara Karang-Muara Tawar and Tegal Gede gas pipeline projects have been completed up to 70 percent.

    The first RDMP (Refining Development Master plan Program) phase of the refinery project in Balikpapan, Kalimantan, is expected to be completed in June 2019 and it will become operational in September 2019 while the first phase of the project is expected to be completed in the middle of 2021 when its production will meet Euro 5 standard.

    The New Grass Root Refinery project in Tuban, East Java, a joint venture between Pertamina and Rosneft of Russia, is expected to be completed by the end of 2021. The production there will also meet Euro 5 standard.

    The RDMP of the refinery project in Cilacap, Central Java, which is a cooperation project with Saudi Aramco, is expected to be completed in 2022, also with Euro 5 Standard in production.

    “As for the New Grass Root Refinery project in Bontang (Kalimantan), it has been decided that it would be referred to Pertamina for completion, a goal expected to be achieved tentatively by 2023 with Euro 5 Standard production,” Dwi Soetjipto explained.

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  • Pertamina Reports Net Profit rp23,8 Trillion Six Months

    Pertamina Reports Net Profit rp23,8 Trillion Six Months

    PT Pertamina reported US$1.83 billion (Rp23.8 trillion) in net profit in the first half of the year, or an increase of 221 percent from the same period last year.

    Chief Executive of the state-owned energy company Dwi Soetjipto attributed the increase in profit to improved performance of its business units and efficiency in operation.

    “We are grateful that efficiency and increase in performance in the upstream and downstream operations have resulted in an increase in net profit to US$1.83 billion,” Dwi said.

    He said in the first half of the year, the company was still confronted with declining prices of oil in the world market.

    The condition served a big blow to oil companies in the world though the impact was less damaging on Pertamina, he said.

    The prices, however, began to pick up in the following three months, he added.

    Pertaminas Finance Director Arief Budiman said in the first half of 2016 the company recorded US$17.19 billion in income, down 21 percent from US$21.79 billion in the same period last year.

    Its operating income rose 110 percent from US$1.56 billion in the first six months of 2015 to US$3.28 billion in the same period in 2016.

    “We are strong in cash flow with balance reaching US$5 billion. Therefore, we are strong enough to carry out corporate action when necessary,” he said.

    He said the company produced 640,000 barrels of oil equivalent per day consisting of 305,000 barrels of crude oil and 1,938 mmscfd of gas.

    Investment in a number of upstream projects have been implemented such as in the 1×55 MW geothermal power project of PLTP Ulubelu 3, and 2×55 MW PLTP Lumut Balai now 45 percent completed .

    The company also continued to develop infrastructure both for gas transport and processing and marketing.

    Among gas pipe projects such as Arun-Belawan-KlM-KEK, Muara Karang-Muara Tawar, Gresik-Semarang, and Porong-Grati gas pipes have been more than 80 percent completed.

    Development of processing infrastructure is being accelerated such as Refinery Development Masterplan Program (RDMP) of Kilang Balikpapan, which is now in the final phase of “Basic Engineering Design”, and RDMP of the Cilacap refinery now in the phase of “Front End Engineering Design”.

    Meanwhile, a number of marketing infrastructure projects have been in the final phase of development such as Pulau Sambu and Tanjung Uban oil fuel terminals, procurement of oil fuel and crude oil tankers of the General Purposes (GP) and Medium Range (MR) types with delivery expected this year.

  • Pertamina Rolls Out 98-Octane Fuel

    Pertamina Rolls Out 98-Octane Fuel

    State-owned oil company PT Pertamina has launched a new fuel, Pertamax Turbo. Vice President Corporate Communication, PT Pertamina, Wianda Puspongoro said the product is available at several gas stations in Jakarta.

    “It is now available on MT Haryono, Pramuka, Pantai Indah Kapuk and one other location,” Wianda told Tempo at an auto expo Gaikindo Indonesia International Auto Show 2016 at ICE BSD, Thursday.

    Pertamax Turbo is a fuel with an octane rating of 98. The fuel is released for those who need fuel with an octane rating of above 95, such as those owning turbochared vehicles.

    The first phase of its sales only include Jakarta. In the second phase, Pertamax Turbo will be distributed outside of Jakarta, such as East Java, Central Java and Sumatra. “We have no problem in the preparation for product [launch in other regions],” Wianda said.

    Wianda said Pertamax Turbo is priced at around Rp8,700 per liter. Wianda had yet to confirm whether Pertamax Turbo would replace Pertamax Plus. “We’ll see.”

  • Indonesia’s Pertamina targets stakes in two Iranian oil, gas blocks

    Indonesia’s Pertamina targets stakes in two Iranian oil, gas blocks

    Indonesia’s state-owned Pertamina will sign a memorandum of understanding with the National Iranian Oil Co. next month to develop oil and gas blocks in Iran.

    Under the initial agreement, Pertamina will be allowed access to data on four Iranian oil blocks, a senior company official said Friday.

    “There are two to four blocks that will be evaluated based on the initial study. Of the four, there are two blocks that will be our priority,” Syamsu Alam, Pertamina’s upstream director, said.

    Pertamina expects to get an additional production of 30,000 b/d from each block if it is allowed to acquire the blocks, Alam said.

    Indonesia and Iran have recently intensified efforts to cooperate. Pertamina and NIOC recently signed a heads of agreement for the latter to supply refrigerated LPG to the former. Pertamina is also planning to import a 1-million-barrel cargo of Iran Light crude oil in the third quarter of this year to test the grade at its 348,000 b/d Cilacap refinery in Central Java

    Pertamina has allocated a capital expenditure of $5.31 billion this year, of which 72% is for upstream business. The company plans to spend $2 billion on upstream mergers and acquisitions this year.

    The state-owned company’s overseas blocks produced 83,000 b/d in May 2016 compared with 75,000 b/d in May last year. The increase mainly came from the company’s 10% stake in the West Qurna block in Iraq.

    Pertamina has three producing oil and gas blocks located in Malaysia, Algeria and Iraq.

    The company produced 306,250 b/d of crude in Q1 2016, up 14.5% year on year. Gas production rose by 22.2% year on year in Q1 this year to 1.98 Bcf/day, Alam said. The company is targeting production of 327,000 b/d of crude and condensate and 1.926 Bcf/d of gas in 2016. The figure is equal to 659,000 b/d of oil equivalent, up 10% year on year.

    With limited options domestically, the company is looking at growing its production via acquisition of overseas blocks. It is in advanced talks with Russia’s Rosneft to take a stake of about 10%-15% in two oil gas blocks in Russia. The company is aiming to get 35,000 b/d of production and 200 million barrels of reserves from those blocks.

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  • Pertamina to Build Hospital in Saudi Arabia

    Pertamina to Build Hospital in Saudi Arabia

    PT Pertamina through its subsidiary PT Pertamedika that manages Pertamina Central Hospital (RSPP) will soon build a hospital in Saudi Arabia.

    Energy and Mineral Resource Minister Sudirman Said, after the signing of Cilacap factory development contract with Saudi Aramco in Jakarta on Monday, May 23, 2016, said that the state-owned oil company has made a commitment to build a hospital in Saudi Arabia.

    “Indonesia has made a commitment to build an Indonesian hospital in Saudi Arabia,” said Sudirman.

    Sudirman, who facilitates connecting Indonesia and Saudi Arabia investments, admitted that he had partnered with Saudi Arabia’s Health Minister.

    “The plan has now progressed to the signing phase between Indonesia’s Health Minister and Saudi Arabia’s Health Minister,” Sudirman said.

    According to Sudirman, an Indonesian hospital is needed in order to serve Indonesian hajj pilgrims and accommodate the needs of Indonesian workers in Saudi Arabia.

    A day before, Saudi Arabian Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud offered Indonesia a chance to open a hospital in Saudi Arabia during a meeting with President Jokowi.  The Saudi government has already allocated a land for the development.

    Saudi Arabia has also committed to expanding its investment, specifically in the tourism sector and Indonesian financial portfolio.

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  • Pertamina cuts Pertamax gasoline prices

    Pertamina cuts Pertamax gasoline prices

    State-owned oil and gas company Pertamina has lowered the prices of Pertamax gasoline by Rp200-Rp300 per liter effective as of 00:00 on Sunday, 2016.

    Corporate Communication Vice President of Pertamina Wianda Pusponegoro said in written statement here on Sunday that the lowering of the prices was a periodical corporate decision made to follow the trend of the world crude prices.

    “The prices of Pertamax were lowered by Rp200 per liter for Java, Madura and Bali islands and by Rp300 per liter for other regions,” she said.

    She cited Jakarta and its surroundings as an example where Pertamax price was lowered from Rp7,550 per liter to Rp7,350 per liter. In Surabaya, East Java, the price was lowered from Rp7,650 to Rp7,450 per liter.

    In East Kalimantan, on the other hand, the price of Pertamax was cut by Rp300 per liter from Rp8,000 per liter to Rp7,700 per liter.

    The price of Pertamax Plus in West Nusa Tenggara, Java and Bali was cut by Rp200 per liter and by Rp300 per liter in other regions.

    However, the price of Pertamax Dex was lowered by Rp300 per liter in all regions. The Price of Dexlite gasoline was set at Rp6,650 per liter.

    Pertamina also cut the price of Pertalite gasoline by Rp200 per liter in all regions.

    “The price of Pertalite in Papua which was initially sold at Rp7,300 per liter is lowered to Rp7,100 per liter,” she said.

    The prices of diesel oil/bio-diesel oil were also reduced by Rp300 per liter.

    In Jakarta and Banten, the prices of fuels of these types went down from Rp6,950 per liter to Rp6,650 per liter.

    “Besides the decline in the world oil prices, the lowering by Pertamina of the gasoline prices was also a form of the companys appreciation to consumers,” Wianda Pusponegoro said.

    She said Pertamina will continue to monitor tightly the availability of stocks at gasoline refueling stations considering that the decline in the price of gasoline often increases consumption.