Pertamina Surrender

Oil Refinery Project 

The Pertamina oil refinery project has yet to show any meaningful progress despite being strongly warned by President Joko Widodo three weeks ago. The SOE is not able to bear the burden of investment.

According to the records, the need for a total refinery revitalization that exists and building a new refinery reaches US $ 36.27 billion or more than Rp 47 trillion with an exchange rate of US $ 1 = Rp 13,0000

On the other hand, the company must also prepare funds to maintain the need for import of fuel oil (BBM), crude oil imports, and the distribution of subsidized diesel and liquefied petroleum gas (IPC). The details of investment requirement include the revitalization project of Balongan Refinery-West Java of US $ 1.27 billion, Balikpapan-East Kalimantan Refinery (US $ 5.3 billion), Cilacap Refinery-Central Java (US $ 4.5 billion), Dumai-Riau Refinery US $ 4.2 billion). Then for a new refinery in Tuban- East Java needs US $ 13 billion and Bontang-East Kalimantan refinery about US $ 8 billion.

Director of Pertamina's Refinery and Pertamina Refinery Mega Project Rachmad Hardadi said that from the financial burden, the company should manage in such a way as there are other projects to be undertaken such as upstream acquisitions and infrastructure projects.

"The finance burden must be rearranged and it is submitted to the government, there are some who are shifted. So that the burden does not accumulate at 1 or 2 years simultaneously, "said Hardadi. Therefore, the target of the operation of six refinery projects is certainly backed down.

Related to the plan's plan, the company has informed the partners. To Saudi Aramco, Pertamina has sent a letter regarding the adjustment of refinery settlement target, while with Rosneft, the company will hold talks today (7/6).

"We discussed with Rosneft, the steering committee. With Aramco just waiting for a response from them, "he said

President Jokowi on May 18 threatened to step down directly in the project. "If the refinery does not start, I go straight inside. Not only through ministers, but directly through Pertamina's president director, "said the President.

In the RDP, Commission VII member Harry Purnomo requested an explanation of the obstacles in the construction of the mega project. In fact, on the other hand, accelerated development is needed so that the capacity of national refineries can cover the level of fuel consumption. Similar sounds come from members of Commission VII Dito Ganinduto and Kurtubi.

"I value the progress of refinery development is very slow, if there are financial problems can be disclosed," said Harry in the RDP.

SLOW

According to Kurtubi, the completion of the refinery project should be done quickly. The draft Petroleum and Natural Gas draft has included a refinery targets target of 10 years after the law is in force. That way, there is no need for fuel imports to meet national needs.

Energy observer from the Reforminer Institute Pri Agung Rakhmanto said Pertamina's decision occurred because the company must carry out the duties of public services such as the distribution of subsidized and premium diesel that has not been sold according to the formula.

However, Pri Agung assessed that it could still be resolved by granting compensation from the government. Thus, refinery project funding can be run without disrupting the performance of the corporation. "The decision can still increase again, as long as there is a solution and compensation from the government on this issue," he said.

According to him, the pullback of the refinery's work target could raise problems with Pertamina's partners, such as Saudi Aramco and Rosneft.

"Worried, investors who have been in the approach and existing agreements can crude back. It is not easy to achieve that. According to him, if the partner is not in line with the change, the project is delayed and impacts on the import of BBM, the greater the impact, can reduce foreign exchange and depreciate the rupiah exchange rate.

IN INDONESIAN

Pertamina Menyerah

Proyek kilang minyak PT Pertamina belum juga menunjukkan perkembangan berarti kendati telah diperingatkan keras oleh Presiden Joko Widodo tiga pekan lalu. BUMN tersebut tidak sanggup menanggung beban investasi.

Menurut catatan, kebutuhan untuk total revitalisasi kilang yang eksis dan membangun kilang baru mencapai US$36,27 miliar atau lebih dari Rp47 Triliun dengan nilai tukar US$1 = Rp 13.0000

Di sisi Iain, perseroan juga harus menyiapkan dana untuk menjaga kebutuhan impor bahan bakar minyak (BBM), impor minyak mentah, serta penyaluran subsidi solar dan liquefied petroleum gas (IPC). Adapun rincian kebutuhan investasi meliputi proyek revitalisasi Kilang Balongan-Jawa Barat sebesar US$1,27 miliar, Kilang Balikpapan-Kalimantan Timur(US$5,3 miliar), Kilang Cilacap-Jawa Tengah (US$4,5 miliar),  Kilang Dumai- Riau(US$4.2 miliar). Kemudian untuk kilang baru di Tuban- Jawa timur membutuhkan modal sekitar US$13 miliar dan kilang Bontang-Kalimantan Timur sekitar US$8 miliar. 

Direktur Mega Proyek Kilang danPetrokimia Pertamina Rachmad Hardadi mengatakan dari sisi beban keuangan, perseoran harus mengatur sedemikian rupa karena ada juga proyek lain yang harus dikerjakan seperti akuisisi di hulu dan proyek infrastruktur.

“Beban finance-nya harus diatur kembali dan itu disampaikan kepada pemerintah, ada beberapa yang digeser. Supaya bebannya tidak menumpuk pada l atau 2 tahun secara bersamaan," kata Hardadi. Dengan demikian target pengoperasian enam proyek kilang dipastikan mundur.

Terkait pembahan rencana itu, perseroan telah memberitahukannya kepada mitra. Kepada Saudi Aramco, Pertamina sudah mengirimkan surat tentang penyesuaian target penyelesaian kilang, sedangkan dengan Rosneft, perseroan akan melakukan pembicaraan hari ini (7/6).

“Kami membahas dengan Rosneft, steering committee. Dengan Aramco hanya menunggu respons dari mereka,” katanya

Presiden Jokowi pada 18 Mei mengancam akan turun langsung dalam proyek ini. “Kalau kilang tidak dimulai, saya langsung masuk ke dalam. Tidak saja melalui menteri, tetapi langsung melalui direktur utama Pertamina," kata Presiden.

Pada RDP tersebut, anggota Komisi VII Harry Purnomo meminta penjelasan tentang kendala dalam pengerjaan mega proyek tersebut. Padahal, di sisi lain, diperlukan percepatan pembangunan agar kapasitas kilang nasional bisa menutupi tingkat konsumsi BBM. Suara senada datang dari anggota Komisi VII Dito Ganinduto dan anggota Kurtubi.

"Saya nilai progress pembangunan kilang lamban sekali. Kalau ada kendala masalah finansial bisa di disclose,” ujar Harry dalam RDP tersebut.

LAMBAN

Menurut Kurtubi, penyelesaian proyek kilang harus dilakukan secara cepat. Dalam draf Rancangan Undang Undang Minyak dan Gas Bumi telah dicantumkan target penyelesaian kilang 10 tahun setelah Undang-Undang  berlaku. Dengan begitu, harapannya tidak perlu Iagi impor BBM untuk memenuhi kebutuhan nasional.

Pengamat energi dari Reforminer Institute Pri Agung Rakhmanto mengatakan keputusan Pertamina itu terjadi karena perseroan harus mengemban tugas pelayanan publik seperti penyaluran solar bersubsidi dan premium yang belum dijual sesuai formula.

Namun, Pri Agung menilai hal itu masih bisa diselesaikan dengan pemberian kompensasi dari pemerintah. Dengan demikian, pendanaan proyek kilang bisa dijalankan tanpa mengganggu kinerja korporasi. “Keputusan itu masih bisa bertambah Iagi, asalkan ada solusi dan kompensasi dari pemerintah terhadap masalah ini,” ujarnya.

Menurut dia, mundurnya target pengerjaan kilang bisa memunculkan persoalan dengan mitra Pertamina, misalnya Saudi Aramco dan Rosneft.

“Khawatirnya, investor-investor yang sudah di approach dan kesepakatan-kesepakatan yang ada bisa mentah kembali. Tidak mudah untuk mencapai hal itu. Menurutnya, apabila mitra tidak sejalan dengan perubahan itu, proyek semakin tertunda dan berdampak pada impor BBM yang semakin besar dampaknya, bisa mengurangi devisa dan menyusutkan nilai tukar rupiah. 

Bisnis Indonesia, Page-1, Wednesday, June 7, 2017