Govt To Study The Management Of Petral

Jakarta , Nov 19 (Antara) - The Energy and Mineral Resources (ESDM) Minister Sudirman Said that he and Minister for State Enterprises (BUMN) Rini Soemarno would study the management of Pertamina Energy Trading Limited (Petral). President Joko Widodo wants overall review of the existence of PT Petral, which is based in Singapore, Sudiraman told reporters here on Wednesday. Petral has been widely accused of being indirectly controlled by Mafia in carrying out its function as a trading subsidiary of state oil and gas company PT Pertamina. Petral has been blamed for buying oil from brokers instead of directly from producers causing a big loss to the state. Sudirman said the overall study is necessary that Petral could be utilized efficiently and effectively. "If its existence was found to be useless it is not unlikely that it would be dissolved," he said, adding, but first overall review has to be made." He said he could not say how complex the problem besetting Petral but chairman of the Oil and Gas Management Reform Team Faisal Basri would leave for Singapore. The team would talk with the management of Petral and the team would report to the ESDM minister and BUMN minister, he said. Based on the report the government would decide the next step, he added. Earlier , Sudirman said the existence of Petral would be maintained as strategic instrument in energy supply. "Not necessarily dissolved , but it has to be put under the control of the right man," he said. Petral will remain in Singapore as Indonesia needs an oil and gas trading instrument abroad registered in international market, he said. "It is wrong when the instrument is misused. In that case revamping is needed," he said.