The Government Plans to Buy Foreign Oil Companies

By Editorial Team 27/08/2019
Summary

The government is exercising the possibility to implement mergers and acquisitions on foreign oil companies in 2010 to strengthen the trade balance. There are two ways to do it: first, by becoming the majority shareholders of a healthy, multinational oil company. Through this way, Indonesia could place representatives on the boards and directly dictate the company’s decision and direction.

Second, the government can purchase some financially unhealthy companies, but owning several high oil reserves. It plans to assign PT Pertamina or Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank) to conclude the business immediately using Rp 1 trillion of the state budget.

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