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Pertamina seeks oil using currencies other than US$


  • Oil & Gas
  • Wednesday, 24 Oct 2018

The move is seen as a tool for the government to curb a widening current account deficit caused by rising oil prices and as it tries to keep Indonesia's currency afloat.

The move is seen as a tool for the government to curb a widening current account deficit caused by rising oil prices and as it tries to keep Indonesia's currency afloat.

SINGAPORE: Indonesia's state oil company Pertamina [PERTM.UL] is seeking to buy crude oil for delivery in the first quarter of 2019 using currencies other than the U.S. dollar, a tender document reviewed by Reuters showed on Tuesday.

The move is seen as a tool for the government to curb a widening current account deficit caused by rising oil prices and as it tries to keep Indonesia's currency afloat. The rupiah <IDR=> hovered on Tuesday near its weakest since the Asian financial crisis and is the second worst performer among emerging Asian currencies.

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