Purnomo urges Pertamina to maintain control over Timor Leste fuel market

Minister of Energy and Mineral Resources Purnomo Yusgiantoro on Tuesday called on state oil and gas company Pertamina to maintain its control over the Timor Leste fuel market.

?Doing business in Timor Leste is profitable for Pertamina because fuel is sold according to market prices,? Purnomo told reporters in Jakarta.

Purnomo said Pertamina should beware of competition from new players in the Timor Leste fuel market. He added however Pertamina would be able to compete with them in that country where the company already has enough infrastructure and facilities, and can guarantee supply security.

Presently Pertamina operates 6 fuel depots in Timor Leste. Its operation in the area is now handled by a marketing manager who is assisted by five workers from Pertamina and 14 local staff members.

Pertamina said gasoline fuel and diesel fuel had sold for 37.6 U.S. cent and 35.2 U.S. cent per liter in Timor Leste in April, respectively, while kerosene was priced at 38.4 U.S. cent.

Some foreign companies like BP and Phoenix Fuel as well as local distributor East Timor Fuel have also entered the Timor Leste market. (Godang)