Latest news with #SimonAloysiusMantiri
Yahoo
22-05-2025
- Business
- Yahoo
Pertamina signs domestic swap agreement to meet Indonesia's natural gas requirements
Indonesia's state-owned energy company, Pertamina, has initiated a gas swap scheme to address the country's natural gas demands, in line with directives from special government task force SKK Migas. The agreement involves Pertamina and partners from the West Natuna Group Supply Group, gas suppliers from Corridor Block and Jabung (South Sumatra block), and Singaporean companies Sembcorp Gas and Gas Supply, as well as domestic buyer Perusahaan Gas Negara. The deal was signed at the 49th Indonesian Petroleum Association Convex on 21 May 2025. The scheme is a strategic response to the dual challenge of declining natural gas supplies in Sumatra and rising domestic demand, particularly within the electricity and industrial sectors. It will be implemented by designating a portion of the export volume to satisfy domestic demand. Pertamina president director Simon Aloysius Mantiri said: 'The gas swap scheme will guarantee the availability of domestic gas to drive national economic growth according to the targets set by the Government. 'This effort is made by Pertamina to support President Prabowo's Asta Cita vision, where the certainty of domestic energy supply will maintain national energy security.' Mantiri noted that the gas swap arrangement will contribute to the enhancement of the domestic gas supply by offering an alternative means of securing natural gas for local consumption. Pertamina also announced the signing of a production sharing contract with SKK Migas by its subsidiary Pertamina Hulu Energi, in collaboration with consortium partners Petronas Energy Binaiya and EO Binaiya, for the Binaiya Working Area (WK) offshore eastern Indonesia. This agreement is a part of the government's initiatives to boost investment in the energy sector, particularly in oil and gas, to enhance energy security and promote sustainable economic growth. In a related development, Pertamina disclosed in November 2024 its evaluation of potential liquefied natural gas (LNG) projects in the Philippines, initially focusing on LNG transportation and storage, with potential expansion into exploration, production and distribution. "Pertamina signs domestic swap agreement to meet Indonesia's natural gas requirements" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
03-03-2025
- Business
- Reuters
Indonesia's Pertamina pledges to improve transparency following corruption allegations
JAKARTA, March 3 (Reuters) - Indonesia's state-owned energy company Pertamina on Monday publicly apologised and pledged to improve the firm's governance after five executives at its units were arrested over alleged corruption involving oil imports. The Attorney General's Office last week arrested five executives at three units of Pertamina on charges of alleged corruption related to oil imports between 2018 and 2023 that caused $12 billion in state losses. "We will fix the loopholes that (the AGO) found, so that it would not affect the company or state budget negatively," Pertamina CEO Simon Aloysius Mantiri told reporters. The company would work with the energy ministry to improve transparency, and continue to import crude oil and refined products to ensure energy security, he said. Three executives at three of Pertamina's subsidiaries were accused of colluding to justify higher crude oil and fuel imports volumes instead of sourcing them domestically, as required. Two other executives at Pertamina Patra Niaga allegedly approved the importation of 90-octane gasoline, known as Pertalite, at the price of higher-quality 92-octane gasoline, known as Pertamax. Both also face charges of approving a decision to blend 88-octane gasoline, known as Premium, with Pertamax, which was then sold at the price of higher-octane fuel.
