National fuel stock is safe: Pertamina

State-owned oil and gas company PT Pertamina said on Monday that the national fuel stock is at safe level despite the sky-rocketing oil prices which is havoring around US$70 per barrel.

Pertamina has recently signed oil import agreement, company spokesman Muhammad Harun said on Monday in Jakarta.

In September Pertamina will be importing 17.5 million barrels of fuel, and for October the fuel will be imported from Kuwait for 2 miilion barrels.

Despite being an oil producing country, Indonesia also imports part of its fuel needs.

Pertamina’s marketing and commercial director Ari Sumarno also said that the current national fuel stock is 21.8 million barrels, will be enough for 20 days supply. Early this month, the stock position was about 170,000 to 180,000 barrels per day. Previously the national fuelstock dropped to an alarming level, in which the stock was enough for only 18 days.(*)