Pertamina International Refinery Receives Credit Facility of US$ 100 Million

Photo: Dok. Pertamina International Refinery

JAKARTA - Pertamina International Refinery (KPI) has officially obtained a foreign bank credit facility of 100 million US dollars from First Abu Dhabi Bank (FAB) Singapore Branch.

"This financing will be used as working capital to support the process of purchasing raw materials, in line with the increasing utilization of the refinery and the company's need to maintain supply reliability to support the continued growth of operations," said KPI Finance Director Fransetya Hasudungan Hutabarat, Thursday, December 18.

Fransetya explained that the acquisition of credit facilities from international financial institutions will have a positive impact on KPI, both in terms of strengthening the global funding structure and increasing flexibility in securing crude oil supplies.

"Support for financing facilities from abroad also reflects the global market's recognition of the company's increasingly strong performance, amid the complex energy industry challenges," said Fransetya.

He added, currently, the world energy market is still influenced by various external factors, including geopolitical tensions in the Middle East which can disrupt supply stability, oil price fluctuations due to OPEC+ production dynamics and global demand trends, as well as accelerating energy transition which affects investment patterns in the oil and gas sector.

In this context, the foreign financing support from the UAE bank is a positive signal for KPI's position as one of the main players in the oil processing industry trusted by global lenders.

At the national level, he continued, Indonesia still faces challenges in meeting energy needs.

Domestic consumption of fuel oil (BBM) was recorded as higher than the production capacity of national refineries. This condition makes Indonesia still have to import some fuel products to maintain adequate supply.

"With the increasing utilization of refineries and the strengthening of financing structures for the procurement of crude oil, KPI plays an important role in optimizing the production of domestic fuels, gradually reducing dependence on imports, and supporting national energy resilience," said Fransetya.