Pertamina in talks to sell diesel oil to other distributors

State-owned oil and gas company PT Pertamina is approaching several local fuel distributors to buy a part of its excessive diesel oil stock, after failing to find buyers overseas.

Pertamina?s Vice president for communication Anang Rizkani Noor said in Jakarta on Friday that the firm is negotiating with PT AKR Corporindo, PT Elnusa Petrofin, PT Patra Niaga.

"AKR, for instance, is interested to buy 30,000 kiloliters," he said, voicing optimism the negotiations would be soon concluded..

Slumping demand has caused a drop in Pertamina?s diesel oil sales by more than 30 percent to 50,000 barrels per day (bpd) from 70,000 bpd. As the result, Pertamina?s stock had increased to the equivalent of a 40-day supply from the average of a 25-day supply in normal days.

Pertamina is offering a special price for the fuel so that the stock could be reduced to the equivalent of a 25-day supply. (*)