google.com, pub-9591068673925608, DIRECT, f08c47fec0942fa0 Pertamina Imports Crude Oil from Nigeria - MEDIA MONITORING OIL AND GAS -->

Pertamina Imports Crude Oil from Nigeria

    PT Pertamina (Persero) through PT Pertamina International Refinery (KPI) received a crude oil procurement contract from Nigeria. The import of crude oil was obtained by Pertamina from the Nigerian National Petroleum Corporation (NPCC).

NPCC

    Director of Feedstock and Product Optimization of KPI Yoki Firmandi said this is the first direct contract between Pertamina and NPCC, although Pertamina often buys Nigerian oil. So far, Pertamina has had to buy Nigerian crude oil through the international open market that has a Participating Interest, such as ExxonMobil, Chevron, Shell, Total, and BP.

"With Pertamina's direct deal with NPCC, the procurement process can take place more efficiently. Of course, getting a contract directly will be more efficient. This is in accordance with the refinery feedstock optimization plan in the future,” said Yoki.

    Pertamina was selected as an awardee from a total of 500 companies that registered. NNPC is a Nigerian National Oil Company, like Pertamina in Indonesia. The direct supply contract is very important for bilateral relations between the two countries. Yoki said that Nigerian crude oil is sweet crude.

    This direct contract has a duration from 2021 to 2023. Yoki explained that KPI was not alone in getting this direct contract. Purchasing crude oil directly to the NPCC is expected to increase the efficiency of purchasing crude oil directly to oil producers.

    KPI synergizes with Subholding Shipping PT Pertamina International Shipping (PIS) in terms of transportation. PIS has just launched two new Very Large Crude Oil Carrier (VLCC) vessels, namely MT Pertamina Prime and MT Pertamina Pride. Later the oil will be transported by a ship owned by PIS.

VLCC MT Pertamina Prime

    In addition, Pertamina International Marketing & Distribution, Pte Ltd (PIMD) under Subholding Commercial and Trading also played a role in supporting KPI in obtaining the contract. Vice President of Feedstock and Inventory Management KPI Sani Dinar Saifuddin said Nigerian oil has a large portion of Pertamina's oil import volume. In the 2017-2020 period, 30 percent of the volume of imported crude oil came from Nigeria. Pertamina's crude imports in 2019 amounted to 75.3 million barrels.

"Nigeria is Pertamina's second-largest source of crude oil imports, after Arabian Light Crude supply to FOC I RU IV Cilacap from NOC Saudi Arabia Aramco," said Sani.

 

    Meanwhile, crude oil imports this year are projected to increase significantly compared to 2020. According to Pertamina's 2021 projection data, crude oil imports are targeted to reach 118.4 million barrels, an increase of about 50.4 percent compared to last year's crude oil imports which were only 78.7 percent. million barrels.

Nicke Widyawati

    Pertamina President Director Nicke Widyawati said Pertamina needed to maximize the refinery processing capabilities that needed to be supplied with oil. In addition, there was a decrease in GOI entitlement due to the still low Indonesian oil price (ICP).

"We have an increase in imports of 39.7 million barrels," said Nicke.

    Previously, Nicke projected that the volume of crude oil imports this year would increase to 118.4 million barrels. This projection is up 50.4 percent from the realization of crude oil imports throughout 2020 which reached 78.7 million barrels. The increase in crude oil imports is part of Pertamina's refinery optimization strategy.

Republika, Page-9, Wednesday, July 14, 2021

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