Oil and Gas Contractors Are Not Required to Use L/C

The Government decided to exclude the use of Letter of credit (L / C) for oil and gas contractors who export oil and gas (oil and gas). Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM), Djoko Siswanto said, in the attachment of the Minister of Trade Regulation No. 94 of 2018 concerning Provisions on the Use of Letter of Credit for Export of Certain Goods, oil and gas exports are not required to use L / C.

This is because the oil and gas industry has used a bank guarantee, aka standby letter of credit (SBLC).

"The oil and gas industry is not obliged to use, contractors have used the SBLC, yes," he said.

According to Djoko, the oil and gas industry has always used SBLC in oil and gas transactions. That way, the industry no longer needs to use L / C because the principle is the same.

"Some say L / C is a guarantee. Well, that's why this is a problem of definition, understanding, even though it's the same. In the world of oil and gas, the L / C has entered the SBLC," Djoko added.

The oil and gas industry already has its own mechanism for oil and gas exports. Some related regulations include Bank Indonesia Regulation (PBI) Number 16/10 / PBI / 2014 and PBI Number 17/20 / PBI / 2014.

Previously, oil and gas contractors were preoccupied with the obligation to sell oil to PT Pertamina. However, the regulation on the obligation to sell oil is still constrained by the Minister of Finance Regulation regarding 3% tax for Cooperation Contract Contractors (KKKS) who sell oil to domestic.

IN INDONESIA

Kontraktor Migas Tidak Wajib Menggunakan L/C

Pemerintah memutuskan untuk mengecualikan penggunaan Letter of credit (L/C) bagi kontraktor migas yang mengekspor minyak dan gas (migas). Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM), Djoko Siswanto mengatakan, dalam lampiran Peraturan Menteri Perdagangan Nomor 94 Tahun 2018 tentang Ketentuan Penggunaan Letter of Credit untuk Ekspor Barang Tertentu, tidak disebutkan ekspor migas wajib menggunakan L/C.

Hal tersebut karena industri migas sudah menggunakan bank garansi alias standby letter of credit (SBLC). 

“Industri migas sudah tidak wajib menggunakan , kontraktor sudah menggunakan SBLC, ya sudah,” ujar dia.

Menurut Djoko, industri migas sudah sejak dahulu menggunakan SBLC dalam transaksi migas. Dengan begitu, industri tidak perlu lagi menggunakan L/C karena prinsipnya sama. 

"Ada yang mengatakan L/C itu jaminan. Nah, makanya ini masalah definisi, pengertian, padahal sama. Di dunia migas, L/C itu sudah masuk SBLC,” tambah Djoko.

Industri migas memang sudah memiliki mekanisme sendiri dalam melakukan ekspor migas. Beberapa aturan terkait antara lain Peraturan Bank Indonesia (PBI) Nomor 16/10/PBI/2014 dan PBI Nomor 17/20/PBI/2014. 

Sebelumnya, kontraktor migas sedang disibukkan dengan kewajiban menjual minyak ke PT Pertamina. Namun aturan kewajiban menjual minyak itu masih terkendala Peraturan Menteri Keuangan terkait pajak sebesar 3% bagi Kontraktor Kontrak Kerja Sama (KKKS) yang menjual minyak ke domestik.

Kontan, Page-14, Monday, Oct 8, 2018