Jakarta (Antara Bali) - State oil and gas firm Pertamina is set to dissolve its Singapore-based subsidiary Pertamina Energy Trading Limited (Petral) this year after evaluating its benefits.
"After we change our strategy of handling the import of crude oil and fuel oil, we will take over Petrals assets," President Director of Pertamina Dwi Soejtipto said during a hearing with Commission VII of the House of Representatives (DPR) here on Wednesday.
Petral currently handles imports of crude oil and fuel oil for the state oil and gas company. Soetjipto stated that after Petrals assets are taken over, they will be developed in accordance with Pertaminas vision to become a world-class oil company.
Moreover, Pertamina is in the process of taking preparatory steps to dissolve Petral to ensure that it does not spend excessive funds on the planned dissolution.
After being dissolved, Petral will be replaced by a new company, which will be managed by Pertamina, to handle its international trade, he revealed.
"Let us wait and see which company replaces Petral. It will most likely be Pertamina Energy Services that will, hopefully, continue to handle our international trade activities," he noted.
In addition, a member of Commission VII of the DPR, Bowo Sidik Pangarso, pointed out that Pertamina should handle the import of crude oil and fuel on its own.
"Petral should not have been set up. Pertamina should manage the import of fuel by itself. I believe it can do so," he remarked. (WDY)
