Indonesia's Widodo Unveils Energy Action Plan, to Halt Petral Oil Trading
Petral, which started trading for Pertamina in 2009, trades Indonesian as well as foreign crude oil and oil products. Its markets are mostly in the Asia Pacific region as well as the United States, Europe, Middle East and Africa.
Government officials estimate that as much as 5 percent of Indonesia's fuel is smuggled and sold to neighbouring countries such as Singapore and Malaysia.
Indonesian police this month said that four people, including two navy contractors and an official from Pertamina, were arrested for their involvement in a five-year-long fuel smuggling operation worth millions of dollars.
Widodo plans to also impose major changes at Pertamina.
"Pertamina will be transformed into a non-listed public company to improve managerial capability ... and national human resources," Kristiyanto said.
"Pertamina must be free from political interference."
Pertamina will also be asked to take responsibility for the appointment of oil and gas work areas, contract extensions, logistics and production controls, and the management of expiring energy contracts. Kristiyanto did not specify which contracts would be affected.
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