Domestic Consumption being Drops, Pertamina Wants to Export Avtur and Diesel Fuel

TRIBUNBATAM.id - PT Pertamina (Persero) opens up opportunities to export aviation fuel and diesel fuel.

This is due to the excess supply of both types of fuel in the company's tank.

Pertamina's President Director, Nicke Widyawati said, there was currently an oversupply of Pertamina's aviation fuel and diesel fuel, due to the weak consumption of the two types of fuel. 

Many closed domestic and international flight routes, resulting in average daily consumption of Avtur in March 2020 decreased by 60 percent.

"And the reduction in industrial fuel prices is also very sharp because many are already not operating," Nicke said in a working committee meeting with the Commission VI of the Indonesian Parliament on Thursday (4/16/2020).

The drop-in aviation fuel consumption, resulting in excess stock in the Pertamina tank. Noted, the stock of Avtur is projected to be enough for 119 days.

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"So we see export opportunities even though we know prices are indeed not good," he said. 

Furthermore, Nicke also asked the government to encourage companies to buy diesel from Pertamina.

For information, Pertamina has prepared two scenarios for revenue reduction, namely a heavy scenario and a non-severe scenario.

For a severe scenario, assuming world crude oil prices are 38 dollars per barrel and the rupiah exchange rate against the US dollar is Rp 17,500, Pertamina's revenue is projected to decrease 38 percent from 2020 RKAP and down 30 percent from the realization of revenue in 2019.

While for a very heavy scenario, assuming the world price of crude oil is 31 US dollars per barrel and the rupiah exchange rate is Rp 20,000, the company's revenue is projected to fall 45 percent from the RKAP and down 39 percent from the realization of revenue in 2019. (*) 

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