March 14, 2019 / 9:58 AM / 7 days ago

Indonesia's Pertamina, state miners signs fuel pricing deal

JAKARTA, March 14 (Reuters) -

* Indonesia state oil and gas company PT Pertamina on Thursday signed a fuel price benchmark deal with state-controlled mining companies for five years, said Rini Soemarno, State-Owned Enterprises Minister, on Thursday

* Under the deal, Pertamina will sell fuels to miners PT Inalum, PT Bukit Asam, PT Aneka Tambang, PT Timah at the same price, Pertamina Chief Executive Officer Nicke Widyawati said

* Pertamina will supply the miners with 25,000 kiloliters per month of biodiesel and marine fuel oils per month, which will be increased to 40,000 kiloliters per month during the five years

* Soemarno said the deal is aimed at improving operational costs efficiencies for the state companies

* Widyawati said the deal ensures long-term buyers for Pertamina’s products but declined to share details on the pricing

* Pertamina on Thursday also signed an agreement with flag carrier PT Garuda Indonesia to extend the maturity of its loan to Garuda in exchange for supplying the airline with jet fuel at 15 airports abroad (Reporting by Wilda Asmarini; writing by Fransiska Nangoy; editing by Christian Schmollinger)

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