Falling short of disbanding the business unit known as Petral or relocating it to Indonesia from Hong Kong, the team said a forensic audit should take place and that the company should be stripped of its right to handle oil imports.
Petral supplies Indonesia with one third of its daily oil needs, making it integral to trading and saving it from being scrapped.
The governance team further recommended that the whole process of crude oil and oil product procurement be transferred to ISC Pertamina for oversight.
ISC Pertamina was established within the company in 2008 to take care of the integrated supply chain and purchased oil through Petral on an ad hoc basis.
It is expected that by transferring more power to ISC and cutting out Petral from the process, greater transparency will be achieved.
