Jakarta to overhaul Pertamina in reform move

Jakarta

INDONESIA will overhaul national oil company PT Pertamina as the government seeks to improve the management of state-owned enterprises and deliver infrastructure projects after slashing fuel subsidies.

A plan for Pertamina to take over oil importing from its offshore trading unit, Petral, will increase domestic oversight of the company's energy purchases, Rini Soemarno, the state-owned enterprises minister, said in a Jan 16 interview. The removal of petrol subsidies at the start of 2015 will also reduce opportunities for irregular transactions, she said.

"We're not aiming at people, we're aiming at practices, which have been in play for quite a while," Ms Soemarno said in her first interview with …