Chevron Struggles to Market Oil, Gas
19 February 2015 17:34 WIB
TEMPO.CO, Bandung – PT Chevron Pacific Indonesia president director Albert Simanjuntak said his company was having difficulties in marketing its oil and gas from increasing supplies and dropping prices.
“Supplies are abundant but the price is dipping. The market is overflown, so we’re having difficulties to market [oil and gas],” he told Tempo at Bandung Institute of Technology (ITB) on Friday, February 18, 2015.
The international oil prices declined significantly in January 2015. The west Texas Intermediate oil price dropped from US$59.29 in December 2014 to US$47.33 per barrel. The Brent oil price, meanwhile, slipped by US$13.51 per barrel from US$63.27 per barrel in December 2014.
Oil and gas exports also tumbled by 11.75 percent from US$2.35 billion in December 2014. The Energy and Mineral Resources (ESDM) Ministry recorded that the average Indonesian Crude Price was down by US$14.26 to US$45.30 in January 2015.
Albert added that Chevron could meet the demands for geothermal energy in Indonesia.
“Overall, 50 percent of our geothermal is produced for Indonesia,” he said.
PERSIANA GALIH
