Latest news with #PTPertamina
The Star
3 days ago
- Business
- The Star
Indonesia calls in Singapore oil traders over Pertamina probe
Motorists queue at a PT Pertamina gas station in Jakarta, Indonesia, on Saturday, Dec. 7, 2024. - Bloomberg JAKARTA: Indonesian investigators have invited Singapore-based oil traders to meet in the city-state next week as part of a US$12 billion corruption probe into state-owned oil firm PT Pertamina. The requests from the Indonesian attorney general's office come after earlier notices, sent over the past month, seeking cooperation in the investigation. Some Singapore-based traders have been asked to attend meetings from Monday (June 2) onwards, said Harli Siregar, a spokesman for the office, adding there was no confirmation that they would attend. "What matters is that they're willing to be questioned,' Siregar said by text message. "If investigators have to go [to Singapore], that's not a problem.' There is no suggestion that those called to assist in the wider investigation have been accused of any wrongdoing. Indonesian newspaper Tempo reported Tuesday that the attorney general had asked a unit of Pertamina to assist in calling in nine individuals in Singapore, citing an unnamed person with direct knowledge of the investigations. The report identified the individuals as employees of large trading companies including BP Plc, Glencore Plc and Vitol SA, among others. BP and Glencore declined to comment. A Vitol spokesperson said the company works in compliance with all applicable laws and regulations, and "seeks to have an open and transparent relationship with the relevant authorities in the jurisdictions in which it operates.' Singapore-based traders and companies that have received the requests have sought external legal advice to determine the extent of their obligation to foreign investigators, according to people directly involved in these efforts, who asked not to be identified as they are not authorised to speak publicly. It is not clear if Indonesia has formally sought Singapore's help under an existing mutual legal assistance treaty. The Attorney-General's Chambers in Singapore did not immediately respond to an email seeking comment. - Bloomberg
Bloomberg
4 days ago
- Business
- Bloomberg
Indonesia Summons Singapore Oil Traders in Pertamina Graft Probe
Indonesian investigators have asked Singapore-based oil traders to attend meetings in the city-state next week as part of a $12 billion corruption probe into state-owned oil firm PT Pertamina. The requests from the attorney general's office come after earlier notices were sent over the past month, seeking cooperation in the investigation into alleged corrupt practices at Pertamina. Previously, the AGO had asked the traders to attend in-person meetings in Jakarta, and also suggested the office of Singapore's Corrupt Practices Investigation Bureau as a possible venue, without specifying a date.
Yahoo
21-05-2025
- Business
- Yahoo
Indonesia Signs Swap Deals to Ensure Domestic Gas Supply
Indonesian natural gas producers have signed a multi-party gas swap agreement with Indonesian and Singaporean traders aimed at increasing gas supply security in western Indonesia. As gas production in Sumatra in western Indonesia is falling, local companies and regulators looks to redirect domestic gas supply to meet local demand while selling overseas gas from other areas. In a deal signed on Wednesday, Indonesian gas producer Medco Energi Internasional signed a multi-party swap agreement with companies including state energy firm PT Pertamina and Singaporean and Indonesian gas traders Oil Natuna Sea B.V., Star Energy (Kakap) Ltd., Sembcorp Gas Pte Ltd., Gas Supply Pte Ltd., Petrochina International Jabung Ltd., and PT Perusahaan Gas Negara (Persero) Tbk (PGN). Under the agreement, specific gas volumes will be supplied to Singapore from the West Natuna Supply Group, replacing volumes currently delivered from Corridor Block and Jabung PSC, the so-called South Sumatra Sellers. These redirected volumes will then be allocated to meet domestic gas demand, with PGN serving as the domestic buyer. 'This collaboration demonstrates a strong example of productive synergy between upstream operators, the regulator, partners and buyers in ensuring gas supply across both domestic and international markets,' MedcoEnergi director and chief operating officer, Ronald Gunawan, said in a statement. Indonesian gas demand is rising, while production at some legacy gas fields is dropping. The country has started replacing diesel as a fuel in dozens of power plants with LNG, which is set to boost demand for natural gas in one of the world's top LNG exporters. Last month, Indonesia awarded five strategic oil and gas blocks to international and domestic players in a bid to reverse its decade-long production decline and bolster energy security. The awards are part of Indonesia's broader upstream revival strategy, with nearly 60 additional blocks expected to be offered over the coming years. 'The government hopes these auction winners will be able to contribute to Indonesia's energy security ahead,' said Tri Winarno, a senior official at the Ministry of Energy and Mineral Resources. By Charles Kennedy for More Top Reads From this article on
Malaysian Reserve
19-05-2025
- Business
- Malaysian Reserve
Indonesia taps Singapore traders in US$12b Pertamina probe
INDONESIAN authorities have contacted a number of Singapore-based trading companies to request their cooperation in a $12 billion corruption probe involving state-owned oil giant PT Pertamina. The oil traders received notices earlier this month, asking them to assist the office of Indonesia's attorney general by answering questions on overall governance and past transactions, according to several people who were sent or saw the invitation. They asked not to be identified as they are not authorized to speak publicly. Earlier communication had sought to invite traders to Jakarta, but the people said the latest missive, sent from a Pertamina email address, specified interviews would be conducted at Singapore's Corrupt Practices Investigation Bureau, without confirming dates. There is no suggestion that those called to assist have been accused of any wrongdoing. Indonesian authorities arrested executives from Pertamina subsidiaries in February on accusations that they pushed refiners to import marked-up crude and oil products from abroad, causing state losses. More executives, including Nicke Widyawati, the company's former chief executive, have since been questioned in a widening investigation. President Prabowo Subianto has sought to strengthen his grip on Indonesia's state-owned enterprises since taking office last year. These — including Pertamina — have been consolidated into a new investment fund, Danantara, which reports directly to him. Shortly after his inauguration last year Subianto also appointed a senior member of his political party to Pertamina's top role. The attorney general's office in Jakarta confirmed that several Singapore-based companies had been summoned, but said no interviews had yet taken place. 'Through our attaché and investigators, we are trying to re-establish communication with several Singaporean oil companies to support the Pertamina probe. We've invited them again to Jakarta,' spokesman Harli Siregar said by telephone. 'One option under consideration is to approach them directly in Singapore,' he said. 'But that remains just an option for now.' Singapore's CPIB said it was unable to comment on whether any individuals or entities were involved in corruption investigations. A Pertamina spokesman said the parent company was not involved in the request and declined to comment further. Singapore is not an oil producer but the city-state is Asia's most important commodity trading hub, hosting a large community of marketers, shippers and financiers. In addition to that, the country has a vast network of onshore tanks that help with storage and distribution of everything from gasoline to diesel across the region. Indonesia is dependent on energy imports, and Singapore-based companies are regular participants in Pertamina's tenders for the purchase of gasoline and crude oil. –BLOOMBERG
Bloomberg
19-05-2025
- Business
- Bloomberg
Indonesia Taps Singapore Traders in $12 Billion Pertamina Probe
Indonesian authorities have contacted a number of Singapore-based trading companies to request their cooperation in a $12 billion corruption probe involving state-owned oil giant PT Pertamina. The oil traders received notices earlier this month, asking them to assist the office of Indonesia's attorney general by answering questions on overall governance and past transactions, according to several people who were sent or saw the invitation. They asked not to be identified as they are not authorized to speak publicly.
