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View all search resultsAGO sells Iranian oil for Rp 900b as super tanker still has no buyer
The Attorney General's Office (AGO) decided to separate the auction of the MT Arman 114 super tanker and its load of some 1.2 million barrels of crude oil, after three failures to auction them as a package.
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The Iranian-flagged Very Large Crude Carrier (VLCC), MT Arman 114, and the Cameroon-flagged MT S Tinos, are seen July 7, 2023, as they were spotted conducting a ship-to-ship oil transfer without a permit, according to the Maritime Security Agency (Bakamla), near the North Natuna Sea. (Reuters/Handout)
T
he Attorney General’s Office (AGO) finally sold 1.2 million barrels of crude oil at a price of Rp 900 billion (US$50.92 million) from the Iranian supertanker MT Arman, seized in Indonesian waters in 2023 for allegedly carrying out an illegal ship-to-ship oil transfer.
“This is the most fantastic good we have sold, this crude oil,” AGO Assets Recovery Agency (BPA) head Kuntadi said in Jakarta on Monday.
“In the pre-event we already sold the crude oil for Rp 800 trillion something and it was sold for Rp 900 trillion something.”
He added the buyer was PT Pertamina Patra Niaga, a commercial trading subsidiary of state-owned energy giant PT Pertamina.
Kuntadi said initially the crude oil was offered in an auction together with the Iranian very large crude carrier (VLCC) with a limit of Rp 1.1 trillion. The joint bid, however, had no buyers in the three times it was offered.
“Then we separated it. Nobody bought it after it had been offered two, three times. [The Rp 900 billion] is just for the crude oil,” he said.
He said it was difficult to sell the assets because the buyers were very specific. The buyer must have both a refinery permit and ship permit.
