The Ministry of Energy and Mineral Resources (ESDM) said there was a profit of around Rp 300 billion with the surge in world oil prices. The profit is derived from the difference in the sale of state oil with subsidized fuel oil (BBM). The plan, the profits will be submitted to PT Pertamina (Persero) as a form of compensation.
Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto, said that the data from the Fiscal Policy Agency (BKF) states that every oil price increase of US $ 1 per barrel will increase state revenues by Rp 2.8-2.9 trillion. While the increase of US $ 1 / barel it makes the subsidy increased to Rp 2.5-2.6 trillion.
"So there is still a windfall profit of around Rp 300 billion," Djoko said at a hearing (RDP) with Commission VII of the House of Representatives (DPR) in Jakarta.
Meanwhile, Member of Commission VII of the House Kardaya Warnika said, Indonesia's oil production is about 800 thousand barrels per day (bpd). Of these nearly half or about 400 thousand bpd is part of the country. While the fuel needs to reach 1.5 million bpd. According to him, the strengthening of world oil price is not good news for importer countries like Indonesia. On the other hand, the fuel price set by the government alias did not increase. This is burdening Pertamina.
"The higher the price of oil the more trouble. Not encouraging for Pertamina, "he said.
To reduce Pertamina's burden due to world oil price hike, Djoko explained there are several options. First option, Pertamina buys oil with Indonesia Crude Price (ICP). This option is then discussed with the Ministry of Finance and the Coordinating Minister for the Economy.
The results of the discussion assessed the purchase price step refers to ICP requires a number of legal protections that preparation takes time. As a result, this option is not discussed then shifted to the second option by calculating how much profit from rising world oil prices.
"We can get money from the price increase, that's what compensate for Pertamina," he explained.
Kardaya questioned the number of windfall profits that were limited to subsidized fuel oil or overall. Considering that subsidized goods are not only fuel but also there is LPG 3 kilograms. The rise in oil prices also makes LPG prices soar.
Nevertheless, he expressed his appreciation for the government's efforts to reduce Pertamina's burden. It's just that Kardaya reminded of what mechanisms to take in compensation.
"It should be clear because the country's money can not be used carelessly. But it must be in accordance with the applicable law mechanism, "he asserted.
Djoko further asserted, the government is ready if the world oil price reached the level of US $ 100 / barrel. Because the current subsidized fuel conditions are different from the previous era. Fuel subsidies are defined and not dependent on the rupiah exchange rate.
"The former is still a subsidy if the price of oil or exchange rate changes, then the larger the subsidy. Since the presidency of President Jokowi, subsidies for diesel have been fixed, not dependent on exchange rates or oil prices, "he said.
However, Pertamina must bear the price difference due to the government's policy to keep fuel prices from rising until 2019. For example, the current Premium price is set at Rp 6,450 / liter, while the price according to formula should be higher Rp 900 / liter from that figure. Furthermore, the selling price of Rp 5,150 / liter is also lower Rp 1,150 / liter from the price should be according to the formula.
This price difference is getting bigger as crude oil price increases. However, referring to the company's data, this year Pertamina will still earn US $ 2.4 billion profit, assuming the oil price is appropriate. APBN of US $ 48 per barrel. However, Pertamina's profit will be eroded if crude oil prices continue to rise, while fuel prices are held steadily. Assuming that the price of crude oil touched US $ 60 per barrel, Pertamina's profit could be reduced to only US $ 1.7 billion. Meanwhile, the price of crude oil has now reached about US $ 70 per barrel.
IN INDONESIA
Harga Minyak Naik, Pertamina Dapat Windfall Profit Rp 300 M
Kementerian Energi dan Sumber Daya Mineral (ESDM) menyatakan ada keuntungan sekitar Rp 300 miliar dengan melonjaknya harga minyak dunia. Keuntungan itu didapat dari selisih penjualan minyak bagian negara dengan subsidi Bahan Bakar Minyak (BBM). Rencananya, keuntungan itu akan diserahkan ke PT Pertamina (Persero) sebagai bentuk kompensasi.
Dirjen Minyak dan Gas Bumi Kementerian ESDM Djoko Siswanto mengatakan, data dari Badan Kebijakan Fiskal (BKF) menyebut setiap kenaikan harga minyak sebesar US$ 1 per barel maka penerimaan negara bertambah sekitar Rp 2,8-2,9 triliun. Sedangkan kenaikan US$ 1 /barel itu membuat subsidi bertambah besar menjadi Rp 2,5-2,6 triliun.
“Jadi masih ada windfall profit sekitar Rp 300 miliar,” kata Djoko dalam rapat dengar pendapat (RDP) dengan Komisi VII Dewan Perwakilan Rakyat (DPR) di Jakarta.
Sementara itu, Anggota Komisi VII DPR Kardaya Warnika menuturkan, produksi minyak Indonesia sekitar 800 ribu barel per hari (bph). Dari jumlah tersebut hampir separuhnya atau sekitar 400 ribu bph merupakan bagian negara. Sedangkan kebutuhan BBM mencapai 1,5 juta bph. Menurut dia, menguatnya harga minyak dunia bukan berita gembira bagi negara importir seperti Indonesia. Di sisi lain, harga BBM ditetapkan pemerintah alias tidak mengalami kenaikan. Hal ini membebani Pertamina.
“Makin tinggi harga minyak makin repot. Tidak menggembirakan bagi Pertamina,” tutur dia.
Untuk mengurangi beban Pertamina akibat dari kenaikan harga minyak dunia, Djoko menerangkan ada sejumlah opsi. Opsi pertama, Pertamina membeli minyak dengan patokan minyak mentah Indonesia (Indonesia Crude Price/ ICP). Opsi ini kemudian dibahas dengan Kementerian Keuangan dan Menteri koordinator Perekonomian.
Hasil pembahasan itu menilai langkah penetapan harga beli merujuk ICP membutuhkan sejumlah perlindungan hukum yang penyusunannya memerlukan waktu. Alhasil, opsi ini tidak Pembahasan kemudian bergeser pada opsi kedua dengan menghitung seberapa besar keuntungan dari kenaikan harga minyak dunia.
“Kita dapat uang berapa dari keuntungan kenaikan harga, itu yang jadi kompensasi bagi Pertamina,” jelas dia.
Kardaya mempertanyakan jumlah windfall profit itu apakah hanya sebatas pada BBM Solar subsidi atau secara keseluruhan. Mengingat barang yang disubsidi bukan hanya BBM tapi juga ada LPG 3 kilogram. Kenaikan harga minyak juga membuat harga LPG melambung.
Namun demikian, dia mengapresiasi pemerintah yang memikirkan upaya mengurangi beban Pertamina. Hanya saja Kardaya mengingatkan mekanisme apa yang ditempuh dalam memberikan kompensasi tersebut.
“Harus jelas karena uang negara itu tidak bisa digunakan sembarangan. Tapi harus sesuai mekanisme perundangan yang berlaku,” tegas dia.
Lebih lanjut Djoko menegaskan, pemerintah sudah siap jika harga minyak dunia mencapai level US$ 100/barel. Pasalnya, kondisi BBM subsidi saat ini berbeda dengan era sebelumnya. Subsidi BBM ditetapkan dan tidak bergantung pada nilai tukar rupiah.
“Yang dulu masih subsidi itu kalau harga minyak ataupun kursnya berubah, maka subsidi makin besar. Sejak kepemimpinan Presiden Jokowi subsidi untuk solar sudah fix, tidak tergantung kurs maupun harga minyak,” ujar dia.
Namun demikian, Pertamina harus menanggung selisih harga akibat kebijakan pemerintah untuk menahan harga BBM tidak naik sampai 2019. Contohnya harga jual Premium saat ini ditetapkan Rp 6.450/liter, sementara harga sesuai formula seharusnya lebih tinggi Rp 900/ liter dari angka tersebut. Selanjutnya, harga jual Rp 5.150/liter juga lebih rendah Rp 1.150/liter dari harga seharusnya sesuai formula.
Selisih harga ini makin besar seiring naiknya harga minyak mentah. Meski demikian, mengacu data perseroan, tahun ini Pertamina masih akan membukukan laba US$ 2,4 miliar, dengan asumsi harga minyak sesuai. APBN sebesar US$ 48 per barel. Namun, laba Pertamina akan tergerus jika harga minyak mentah terus naik, sementara harga BBM ditahan tetap. Dengan asumsi harga minyak mentah menyentuh US$ 60 per barel, laba Pertamina bisa terpangkas menjadi hanya US$ 1,7 miliar. Sementara itu, harga minyak mentah saat ini telah mencapai sekitar US$ 70 per barel.
Investor Daily, Page-1, Thursday, May 24, 2018
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