Pertamina to buy all domestic crude

摘要

The Indonesian government is planning to require all crude produced in the country to be sold directly to state-owned Pertamina. The move — which could divert around 200,000 b/d of exports to the domestic market — has stoked concerns about Jakarta’s resource nationalism. But the primary aim of the initiative is to cut imports and support the weakening local currency. The rupiah has recently fallen to its lowest level against the US dollar in almost three years.