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Overproduction, Pertamina To Export Airplane Fuel In June

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Overproduction, Pertamina To Export Airplane Fuel In June
When Indonesia finally quit from OPEC last year, I straightly thought that Indonesia would no longer be fuel exporter, as the reason behind the withdrawal was simply because Indonesia produces less than 1 million barrel a day. Then I managed to think further, that actually, OPEC is just a bunch of greedy nations that tries to dominate and control the price of oil worldwide by cutting the producer to make the price rises, and vise versa. Pertamina, Indonesia's state-owned oil company, is listed in the 30 biggest oil company in the world, and it is going up and up, due to its venture to find oil blocks elsewhere in the world. Even still surprising, this news is not really shocking. Source www.BKPM.go.id Pertamina to export airplane fuel in June
Jakarta, May 11, 2009 - State oil and gas company Pertamina plans to export 100,000 to 200,000 barrels of airplane fuel (avtur) in June as part of efforts to overcome overproduction. ANTARA News reported. Pertamina now produced 1.5 million to 1.6 million barrels of avtur per month, while domestic demand for the commodity was estimated at 1.3 million to 1.4 million barrels per month, acting chief of the company`s integrated supply chain Rusnaedy said here on Monday.
He said the company was exploring the possibility of selling avtur to Singapore, Malaysia, Thailand and China at market prices. The company was in the process of applying for permits from the Directorate General of Oil and gas at the Energy and Mineral Resources Ministry and the Trade Ministry to export the commodity, he said. He said since March 2009 Pertamina had no longer imported avtur which reached an estimated 300,000 barrels per month. The domestic avtur production exceeds consumption as large quantities of kerosene are converted into jet fuel following the launch of the government-sponsored kerosene-to-gas conversion program. Pic taken from here.
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Andrea Hirata

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