REPUBLIKA.CO.ID, JAKARTA - Pertamina takes over crude oil sale management from Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) President Director of Pertamina, Karen Agustiawan said she would sign the agreement with SKK Migas next week on Monday or Tuesday.
With the taking over process, Agustiawan said, Pertamina had 100 percent authority to manage crude oil sales. Pertamina plans to replace crude oil sales tender with swap mechanism. She believes that the swap mechanism will save the foreign exchange because the process can omit import option from the table and reduce costs in some posts, including shipping cost.
"Obviously not all crude oil can be processed in domestic oil refineries. If we cannot implement the crude oil swap mechanism with production sharing contractors, then we can ask National Oil Company (NOC) abroad," Agustiawan said recently.
The swap will be conducted through Pertamina Trading Limited (Petral) because Petral has contract with NOC abroad.
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