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Pertamina: no more crude deals with Singapore

A Pertamina official has confirmed that Indonesia will not be making any crude processing deals with Singapore next year to cover possible short falls in domestic production. According to the company's processing deputy director, Dwi Kushartojo, it is more economical to import fuel products as they are "cheaper than CPDs."

The company had earlier signed a crude processing deal with Singapore Petroleum to cover a shortfall caused by the recent closure of the 125,000 bpd Balongan refinery in West Java for maintenance. Since Balongan got back to full capacity on 24th October, Kushartojo is confident that, should other refineries have to undergo maintenance, any short fall in Indonesia's national oil production of 1.09 million bpd will be met through imports.

Despite being a member of OPEC and a major exporter of crude oil, Indonesia is a major importer of refined oil products due to rising domestic demand.

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