Pertamina needs US$200 million to increase fuel stocks

State owned oil and gas company Pertamina has asked fresh funds of about US$200 million from the ministry of finance to increase domestic fuel stocks, Investor Daily reported on Wednesday.

Pertamina's president director Widya Purnama said in Jakarta on Tuesday that the existing fuel stocks would be only enough to meet domestic fuel needs for about 20 days.

"But we need to increase the level of the stocks to guarantee fuel supply security in the future," he said, adding that with the funds fuel stocks could be raised to the level which is sufficient to meet domestic demands for between 23 and 24 days.

According to him, Pertamina had also established an integrated team both at provincial and national levels to anticipate the sharp increase in the demand during the Idulfitri holidays in the middle of next month.

He said that the country's total fuel demand reached about 178 kiloliters a day, of which the demand for diesel oil reached 74,000 kiloliters and gasoline reached 44,000 kiloliters. "The demand for kerosene reaches 32,000 kiloliters a day, and the national stock for this type of fuel is enough for 27 days," he said. (*)