Pertamina International Refinery Records Performance Exceeds Target

JAKARTA - Pertamina Subholding for the refining and petrochemical business, PT Kilang Pertamina Internasional (PT KPI) has successfully recorded an operating performance that exceeded the company's work plan and budget (RKAP) targets.

President Director of PT KPI Taufik Aditiyawarman said, there are several main factors that encourage positive performance throughout the first quarter of 2023, including refinery optimization achievements and operational cost efficiency.

The refinery optimization is also carried out in the crude (treal oil) procurement process. We are given flexibility in processing the state's crude to provide better refinery profitability," Taufik explained to reporters, Wednesday, May 24.

Until March 2023, he continued, Pertamina International Refinery through all its units has processed 80 million barrels of crude oil (intake refineries).

Efforts to produce high-value products from the refinery's intake were made to increase the Yield Valuable figure where one of the products being driven was Marine Fuel Oil Low Sulfur (LFO LS - for the ship's bunker).

According to Taufik, this succeeded in making the yields of products or Yield Valuable Products (YVP) above the target.

The percentage of product production is of high value, reaching the realization of 83.5 percent or around 101.3 percent of the target of RKAP March 2023.

"Plant Availability Factor (PAF) which is an indicator of the reliability of refinery operations to operating planning has also been successfully increased to 99.8 percent of the target of 99.2 percent in March 2023 according to the RKAP version," said Taufik.

The improvement in refinery reliability was carried out with several programs, including rejuvenation of materials and equipment, Overhaul and Turn-Around.

This overall activity until 2026 is estimated to cost nearly US$2 billion.

Based on considerations of safety aspects as well as increased integrity, capacity and quality of the products produced, several refinery units under the management of PT KPI have been carried out in the maintenance and repair process, including RU VI Balongan, RU IV Cilacap and TPPI refineries.

In terms of energy use, the intensity index for energy use for production at the refinery or Energy Intensity Index (EII) until March 2023 was recorded at 107.9, better than what was set in the RKAP which was almost 108.4.

For the realization rate of EII, the smaller the index number describes the better performance.

Vice President of Corporate Communication of PT Pertamina (Persero) Fadjar Djoko Santoso said the positive achievement of PT KPI as Sub Holding Refining & Petrochemical is clear evidence of Pertamina's commitment to maintaining national energy security.

Pertamina continues to modernize refineries, including the construction of new refineries to increase national energy security. At the same time, Pertamina also continues to make efficiency in order to continue to increase competitiveness with world companies," said Fadjar.