PREMIUM‘We have many tanks to fill’: Indonesia to make the most out of globally low oil prices

first_imgForgot Password ? oil-price pertamina fuel-import energy-and-mineral-resources-ministry SKKMigas fuel-price state-budget trade-deficit Sri-Mulyani-Indrawati Indonesia aims to make the most out of falling global crude oil prices by fulfilling domestic oil demand without swelling the country’s gaping and growing trade deficit.The Energy and Mineral Resources (ESDM) Ministry acting oil and gas director general Ego Syahrial said on Monday that the government expected Indonesia’s top oil company, state-owned Pertamina, to “buy as much oil as it can,” preferably under long-term purchasing contracts, while global prices are flat out at a four year low.“Oil prices have plunged, we should enjoy it,” he told reporters in Jakarta, “We have many tanks to fill.”Read also: Indonesia aims to double gas production by 2030 with major projects in pipelineOil imports, which reached US$1.18 billion in January, up 19.9 percent from the same month last year, are a main contributor to Indonesia’… Facebook LOG INDon’t have an account? Register here Topics : Linkedin Google Log in with your social accountlast_img