Oil price crash gives Pertamina impetus to increase crude imports

摘要

Singapore—Indonesia is increasingly finding the recent oil price crash working in favor of its trade balance sheet, allowing state-run oil and gas company Pertamina to seize opportunity to ramp up gasoline and crude oil imports for strategic reserves and trading. The sharp decline in benchmark crude and fuel prices has allayed much of Indonesia’s concerns over its wide current account deficit and lofty energy import bills, providing some room for Jakarta to loosen controls on the country’s oil imports.