Pertamina suffers loss of $35 million due to Balikpapan fire

General insurance company PT Tugu Pratama Indonesia estimated that Pertamina had suffered a loss of at least US$35 million due to the fire, which hit its refinery plant in Balikpapan, Kalimantan recently.

The insurance firm, which is also a subsidiary of the state oil and gas company, said it was ready to pay the claim. "We are still waiting for Peramina's assessment before settling the claim," the insurance company's president Sofyan Pulungan said.

One of the oil processing facilities at Pertamina's refinery plant in Balikpapan, East Kalimantan was hit by fire recently causing a shortage of fuel supply in major parts of the country's eastern provinces. The plant, the country's largest oil refinery, supplies all the fuel needs for eastern parts of Indonesia. (*)