Pertamina to increase oil import in May

PT Pertamina, Indonesia's state oil company, will increase imports of oil products by as much as 8.1 percent in May, the Bloomberg reported on Friday.

Shipments may be between 7 million barrels and 8 million barrels, compared with 7.4 million barrels in April, Achmad Faisal, director of trading and marketing at Pertamina, told reporters in Jakarta on Friday.

Indonesia, the second-smallest member of the Organization of Petroleum Exporting Countries by output, imports about a third of its oil products each year because its daily refining capacity of 1.06 million barrels isn't sufficient to meet domestic fuel demand. (*)