Crude Oil Price Reaches 100 US Dollars/Barrel, Pertamina Brings Good News: Fuel And LPG Supply Is Safe

JAKARTA - Pertamina's Vice President of Corporate Communication, Fajriyah Usman, ensures that the supply of fuel oil (BBM) and liquefied petroleum gas (LPG) is guaranteed.

He revealed that Pertamina continued to monitor the development of the world oil and gas market, which rose sharply. The trend in crude oil prices, which has crossed 100 US dollars per barrel, is influenced by the recovery in global energy demand as well as the impact of rising political tensions in Eastern Europe between Russia and Ukraine.

"Pertamina continues to monitor global energy conditions that affect the company's business, in order to ensure national energy security is guaranteed, including the supply of fuel and LPG," he said in a statement to the media, quoted on Saturday, February 26.

According to him, Pertamina is consistent in maintaining upstream to downstream operational performance to improve energy security and maintain supply stability for national consumption needs. Currently, Pertamina has various sources of supply of crude oil, BBM and LPG products, both from within the country and from many other countries so that it has supply flexibility.

"Some of the domestic demand for crude oil is produced through Pertamina's portfolio, namely Subholding Upstream, and is also supplied by KKKS production in Indonesia," said Fajriyah.

Meanwhile, the procurement mechanism is carried out on a long-term basis as well as short-term adjustments, both for crude oil and BBM and LPG products, according to needs and with careful planning.

He added that in addition to ensuring the assignment to distribute energy throughout Indonesia, Pertamina also had to anticipate the current global market dynamics which could potentially put pressure on the company's financial performance from the downstream sector.

"Pertamina will continue to monitor developments in the world oil and gas market and conduct studies, evaluate and coordinate with all stakeholders regarding its strategic impact, including the determination of non-subsidized fuel prices, in order to maintain a balanced market condition and ensure the company's financial capacity in order to ensure the supply of fuel to the entire community. to remote areas of the country," he said.