Petral commonly known as Pertamina Energy Trading Limited engages in trading and marketing crude oil and oil products. It serves the Asia Pacific, the United States, Europe, the Middle East, and Africa markets. Formerly the company was known as Perta Oil Marketing Limited before it was changed to Pertamina Energy Trading Limited in March 2001. Pertamina Energy Trading Limited was incorporated in 1976 and is based in Wanchai, Hong Kong with an additional office in Singapore.
President Director of PT Pertamina (Persero) Karen Agustiawan attests that Pertamina’s auxiliary PT Pertamina Energy Ltd keeps working regularly as Pertamina’s sole exchanging arm, or as one of the backups to lead Pertamina’s exchanging exercises. Accordingly, Pertamina as the parent organization gives full help to Petral’s operation, whose 100% proprietorship has a place with Pertamina.
The presence Petral, which goes about as sole exchanging arm and to perform advertise knowledge, is in understanding to best practices in exchanging business for unrefined oils and BBM items in worldwide market. Besides, back by Petral’s ability, in 2011 Pertamina effectively recorded productivity pick up in the obtainment of rough oils and BBM items to an aggregate of US$283 million.
Pertamina Energy Trading, known as Petral, proceeds with its capacity in acquiring unrefined oils and oil-based goods (BBM items) to take care of local demand.
“Petral has directed great organizations and have great frameworks to complete its obligations. Petral has executed great corporate administration standards. As it is for the parent organization, Petral has additionally been evaluated by fame review organization Ernst and Young and we respect any review by BPK, as state reviewer, to perform review should any further examination is fundamental.
In light of the 25th Annual Ranking Edition issued by Singapore 1000 and SME 1000 the year 2012, Petral is as of now perceived as the main 8 organizations out of 1,000 noteworthy organizations that maintain their business in Singapore. Petral positions above GS Caltex Singapore Pte Ltd (rank 9), Sinochem International Oil (Singapore) Pte Ltd (rank 12), Petrobras Singapore Private Limited (rank 16), ConocoPhillips International Trading Pte Ltd (rank 37), and Singapore Petroleum Company Limited (rank 42). Petral is additionally one of few organizations that get corporate duty motivating force of 5%, contrasted with typical rate of 17.5%.
Over being the fundamental provider for Pertamina in keeping up national vitality security, as of now, Petral has developed its business scale, planning to be one of the real exchanging players in rough oils and BBM items in the provincial market. To help this business improvement, Petral, together with Pertamina, has begun the advancement of BBM Hyperterminal in Sambu Island with a limit of 3 million barrels and BBM Terminal in Tanjung Uban with the limit of 2.5 million barrels. These offices will bolster Petral’s business and bolster national vitality stock security.
VP Corporate Communication of Pertamina Mochamad Harun includes that trust by the market and accomplices are the key capital in rough oils and BBM items exchanging worldwide market. Petral has picked up the trust and monetary help from universal banks and got credit office of US$3.5 billion.
The disinformation on Petral in Indonesia of late has hindered market trust to Petral and may prompt unsettling influence to national vitality stock.