Pertamina cuts Balikpapan capacity utilization

State oil and gas firm PT Pertamina had reduced the capacity utilization of its Balikpapan refinery in East Kalimantan by 10 percent due to the rapid rise of crude prices, the company official said.

?Since last week, Balikpapan refinery has been running at 315,000 barrels per day (bpd) or 90 percent of its capacity. Pertamina will resume a full capacity operation if we think it is profitable,? Pertamina?s Processing Director Suroso Atmomartoyo said on Friday.

The Balikpapan refinery has the capacity to process 350,000 bpd, he said. (Godang/Bernard)