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Indonesia to increase crude oil import from US

State-owned energy holding firm PT Pertamina plans to import 4.75 million barrels of crude oil from the US, up 265.4 percent from 2019 target of 1.3 million barrels.
Indonesia to increase crude oil import from US ảnh 1Illustrative image (Photo: AFP)

Jakarta (VNA)- State-owned energy holding firm&ꦇnbsp;PT Pertamina plansto import 4.75 million barrels of crude oil from the US, up 265.4 percent from2019 target of 1.3 mওillion barrels.

Speaking at the 2019Pertamina Energy Forum, Pertamina’ official Hasto Wibowo said the company doesnot have a purchase contract for crude oil supply in the second half of 2020,and will look for more starting in May. Wibowo said oil imports were carried out to cover the needs ofthe Cilacap Refinery. In April 2018, USPresident Donald Trump administration expressed disappointment over its hightrade deficit with Indonesia and announced that it would review the GeneralizedSystem of Preferences (GSP) facility for Indonesia. Indonesian CoordinatingMinister for Economic Affairs Airlangga Hartarto, weeks ago, stated that theWashington would maintain Indonesia’s GSP facility onthe condition that the country fulfills its requirement to make consistentregulatory adjustments. Indonesia’s 2018 tradesurplus with the US was 9.67 billion USD, up 9.89 percent from the 8.84 billionUSD trade surplus in 2017. The country’ trade surplus with the US grew from2014 to 2018 at an annual rate of 8.47 percent./.
VNA

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