As of Today, Petral Officially Halts Operation

Suci Sedya Utami    •    Rabu, 13 May 2015 14:46 WIB
As of Today, Petral Officially Halts Operation
Director of Pertamina Dwi Soetjipto. ANTARA FOTO/Andika Wahyu, Jakarta: The Board of Commissioners and Directors of PT Pertamina (tbk) officially decided to cut all operations of PT Pertamina Energy Trading Limited (Petral) as of today.

Director of Pertamina Dwi Soetjipto conveyed the decision has gone through series of assessments to Petral. The board sees that Petral's role is no longer significant in the business process of Pertamina.

"According to government instruction, Pertamina have decided to conduct the process of halting Petral from operation and liquidate all remaining assets," Dwi mentioned in a press conference at the office of the Ministry of State-Owned Enterprises, Central Jakarta, Wednesday (5/13/2015).

Dwi added that the entire function and responsibility of Petral as the party conducting sales and purchase of oil will be taken over directly by Pertamina.

"(It is) Taken over directly by Pertamina, as it will be linked with the vendor and third party so the process can be expedited," he said. (Eps)


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