Indonesia to Issue New Rules on Crude Oil Sales
The rules require Pertamina to agree on crude purchases at prices based on business negotiations with domestic oil producers.
OILMONSTER.COM- Indonesia expects to issue rules next week prioritising Pertamina and other domestic refinery operators in sales of crude oil produced locally by contractors, Oil and Gas Director Djoko Siswanto said on Wednesday.
The rules require Pertamina to agree on crude purchases at prices based on business negotiations with domestic oil producers, Siswanto told reporters at a news conference.
This could affect up to 110,000 barrels per day (bpd) of oil produced by Chevron and 27,000 bpd from Exxon Mobil at their operations in Indonesia, he said.
The rules have been signed by the energy and mineral resources minister and are awaiting final approval by the Law and Human Rights Ministry, Siswanto said.
Courtesy: www.reuters.com
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