Indonesia to Require Oil Contractors to Sell Crude Output to Pertamina

The Indonesian government will require all oil contractors in the country to sell their crude output to state energy company Pertamina. (Reuters Photo/Edgar Su)

By : Bernadette Christina Munthe | on 12:27 PM August 15, 2018
Category : Business, Commodities

Jakarta. The Indonesian government will require all oil contractors in the country to sell their crude output to state energy company Pertamina, Energy Ministry spokesman Agung Pribadi said on Tuesday (14/08).

The government is drafting a regulation to implement the change, which Agung said will be released "as soon as possible." The policy is aimed at reducing Pertamina's oil imports and support the weakening rupiah, he added.

Contractors such as Chevron and Exxon Mobil currently split their crude oil output with the government and are allowed to export their shares.

 
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