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Indonesia’s State Energy In Talks To Purchase Exxon, Chevron Indonesian Crude

By John F. Heerdink, Jr.
Pertamina, Indonesia’s state energy company reportedly wishes to reduce imports by buying more of its domestic crude. The decision has urged the state energy company to strike a deal with U.S. oil majors Chevron Corp (CVX) and Exxon Mobil Corporation (XOM) and purchase their share of Indonesian crude production for the second half of this year. As per reports, Dharmawan Samsu, director of upstream at Pertamina informed that the negotiation with both the oil majors was still on and the company expects positive and promising results from Chevron Corp, however, Dharmawan Samsu, director of upstream at Pertamina, expressed that with Exxon it was too early to comment on any conclusion. Pertamina expects to purchase 2.5 million barrels of Minas and Duri crude from Chevron per month and is yet to finalize a deal with Exxon Mobil for purchase of Banyu Urip crude. Erwin Maryoto, VP Public and government affairs ExxonMobil confirmed that the negotiation was still under process however, Chevron remained unavailable for comment. Exxon Mobil Corporation (XOM) explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products. To learn more about ExxonMobil Corporation (XOM) and to continue to track its progress please visit the Vista Partners ExxonMobil Corp. Page. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Join us at Vista Partners! It’s FREE to receive email updates.

Pertamina in talks with Exxon, Chevron to buy H2 2019 Indonesian crude
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