History Petral, who was named Perta Oil, began to be fattened by providing long-term contract Pertamina oil imports.

Subsidiaries whose shares are held by Bob Hasan and once Tommy was also involved in the oil import tender. Since then, the share of imports from the tender, which was previously 80 percent, down to 20 percent. In contrast, the share of imports of the contract increased from 20 percent to 80 percent. In just three years, the performance Petral given initial capital of U.S. $ 30 million is more shiny. Volume of trade rose from 155 thousand barrels per day in 2001 to 321 thousand barrels per day in 2002, and 365 thousand barrels per day in 2003. Petral become the second largest in Southeast Asia, after Vittol. (FHM) President Director of PT Pertamina (Persero) Karen Agustiawan confirm, Petral normally as sole trading arm of Pertamina trading conduct. Pertamina as the parent company to give full support to the operational Petral. Petral still perform its function in the procurement of crude oil and petroleum products for domestic needs. All business transactions continue to run normally as usual and Petral the 100 shares owned by Pertamina to get the full support of the Company in running the business. With the support of their competence Petral, Pertamina successfully perform the efficiency of procurement of crude oil and petroleum products worth U.S. $ 283 million during 2011 and. Petral currently listed as the company ranked eighth of the 1000 largest companies doing business in Singapore. To support business development, Petral with Pertamina has been starting the development of Pulau Sambu Hyperterminal fuel capacity of 3 million barrels and gasoline terminals Tanjung Uban 2.5 million barrels that will support business Petral and domestic energy security. To participate in the tender, Petral maximum opportunity for any interested companies, provided that can meet the minimum requirements specified. These requirements are necessary to prevent the parties are not responsible so that no failure of fuel supply that caused the crisis in Indonesia. Supplying some of the crude oil is not freely sold or limited, which conducted directly to national companies and the manufacturers designated by the manufacturer to market the crude oil. Example is the provision of direct appointment of Arab Light Aramco is not freely traded, and Azeris of PTT Thailand, which has a crude oil storage outside of the largest Azeri Azerbaijan, Kuwait Petroleum Company and Petronas (Malaysia). Especially for the PTT Thailand and Malaysia's Petronas, Pertamina in cooperation with national oil companies both in the framework of cooperation ASCOPE (ASEAN Council on Petroleum), namely container cooperation between national oil companies in ASEAN. In the procurement of crude oil and fuel, required high knowledge and skills trading market is needed. Strategies for the purchase should be determined to prevent soaring of prices and avoid mark-ups. For the direct appointment must be made to the National Oil Company (Aramco National Oil Company as, KPC, Petronas and PTT). This is in accordance with the rules and done to avoid the practice of brokers and mark-up price. National oil companies prohibit the practice known brokers and money on commissions and always has an internal watchdog to prevent corrupt practices. Meanwhile, the purchase of Premium gasoline is always conducted through open bidding tender that participated by 28 companies and traders Major Oil Company (MOC). Petral buys Premium gasoline per month over 8 million barrels. Supplier of Premium gasoline is often won the tender is Arcadia, Total, Glencore, Vitol, Concord, Verita, Gunvor, PPT, Kernel, Bp, Unipec, Petrocina, Petronas, Shell, Trafigura, SK, Conoco. Solar spot for the procurement of the open tender conducted followed by 30 listed companies. While the procurement of long-term, appointed four of the National Oil Company is Kuwait Petroleum Company, Petronas of Malaysia, PTT Thailand and S-Oil is owned by Saudi Aramco. The fourth oil company has an oil refinery that produces Solar. The appointment of the fourth National

Company to prevent the Singapore trader hoarding and harmful speculation that Pertamina and practices of subsidized diesel smuggling to Singapore. Shareholders and Performance are limited liability company incorporated under the Companies Ordinance and based on Hong Kong. Currently, as much as 99.83% stake held by PT Pertamina Petral (Limited) and the rest is owned by the President of Petral as stipulated in the Companies Ordinance of Hong Kong. Petral trading record 2011 total of 266.42 million barrels, consisting of 65.74 million barrels of oil Petral required based on the study conducted by McKinsey consultants with the following considerations: Appointment to Petral done in order to get a picture of the actual market price, due to a Subsidiary acts as a Trading Arm Market Intelligence function Pertamina amid regional market Singapore. Located in the center of financial and financial institutions are required in procurement funding. For operational flexibility more quickly than a corporation Pertamina. Requirements Become a Petral Partner Currently the Commissioner in accordance with the Letter No. 072/K/DK/2009 dated February 26, 2009, and RRD-42/C00000/2009/S0 on 22 April 2009, Petral is designated as a single trading arm for the import of which is domiciled in Singapore. Which could be a supplier of fuel to MM and Pertamina is an entity that has qualified as a list of selected Business Partners (DMUT) Petral. These criteria are required to obtain a reliable partner for failing to prevent the supply of fuel which would cause a crisis in Indonesia.

Criteria for bidders: 1. Major global company listed on the stock exchange and whose shares or a company majority owned by the state (state owned company) is engaged in the production, processing, or trading crude oil, refined products, LNG, or petrochemicals. 2. Companies that have a minimum total equity of U.S. $ 50 million that is visible from the last audited financial statements audited by one of the big 4 audit firm (EY, KPMG, PWC, and Deloitte). 3. Companies that have assets that support the business patterns, such as refineries, storage facilities, blending facilities, shipping facilities or the potential partners have a minimum of 1 year long term contract facilities. This large facility at least equal to the existing large trading facilities. Best Practices trading activities of MM / fuel in the global market by other oil companies, also use the Trading Arm (mostly in Singapore) as well as Pertamina. For example: Relliance - Relliance pte Ltd. Global Energy Services. (Singapore) PTT - PTT Trading in Singapore SK - SK Energy International (Singapore) PetroChina - PetroChina International (Singapore) Pte. Ltd.. Total - Total Oil Trading SA (TOTSA) in Singapore

Shell - Shell International Eastern Trading Co (SIETCO) in Singapore BP - BP Singapore Pte. Limited Petronas - Petronas Trading Corporation (PETCO) in Kuala Lumpur CNOOC - China Offshore Oil (Singapore) International Pte. Ltd. S-Oil - S-Oil Corporation Singapore Branch

Tender Procedures of Crude Oil in Singapore Petral 1. Petral officially accepted the demand for crude oil from Pertamina. 2. Based on the formal request Pertamina, Petral send the invitation to tender to suppliers who have appropriate terregister DMUT list (a list of selected business partners) which has been endorsed by the risk management department Petral 3. Invitations are in it contain the names of crude oil to be purchased, quantity, date of arrival at the refinery Pertamina Pertamina refineries and goals, as well as other requirements, be sent via email to each company in DMUT. 4. The supplier then sends its bid before the closing date of tenders through electronic mail to the address of which is determined by the management Petral. 5. Then to opening tender witnessed by the team. Tender team members chaired by the Head of Trading Petral with members of the functions of traders, finance and risk management. 6. The best price and then delivered to Pertamina without including the names of companies that offer such crude oil. Pertamina then using Linear Programming GRTMPTS software calculates the most profitable crude oil to be purchased, without knowing who the seller is crude oil. 7. Pertamina then formally notify Petral, crude oil which is bought by Pertamina. 8. Petral then once again to negotiate a better price and then the final purchase of crude oil is specified. Tender winner 3 Month the tender conducted by Petral in the last 4 months, crude oil purchased by Petral follows. : 1. January 2012: Akpo Oil purchased from Verita, Azeri purchased from PTT Thailand, Nemba purchased from Verita Oil, Bonny Light purchased from Vitol, purchased from the Seria Oil and Girassol Verita purchased from Repsol. 2. Month of February 2012: Akpo purchased from Eni, Azeri purchased from PTT Thailand, Champion purchased from Shell Brunei, Espo purchased from Vitol, Qua IBOE purchased from BP, Vityaz purchased from Verita Saharan Oil and purchased from Eni. 3. March 2012: There are no tender spot because of insufficient amounts of crude oil stocks. 4. Month of April 2012: Azeri purchased from PTT Thailand, Akpo purchased from Total, BP and Sokol purchased from purchased from Verita Vityaz Oil. From the above data it is clear that Azeri crude is controlled by the PTT Thailand as a party designated by the manufacturer to market Azeri Azeri in Azerbaijan in Asia Pacific. PTT Thailand Azeri Crude always offer the cheapest prices. After a tender conducted in Singapore by Petral, movement of the winning bidder. Now the tender can only be won by companies that are players who have big-name oil and strong networking. No more opportunistic companies to win tenders that have been very transparent The proportion of Crude Oil Supply

Based on data from the procurement of crude oil (MM) during the year 2011, an outline procurement portion of MM to supply Pertamina's refineries are as follows: MM Domestic: 65% of Arabian Light Crude: 13% (Saudi Aramco term) via MM Import PES (Petral Energy Services Pte Ltd: 22% (via spot and term) procurement of Crude Oil Imports Pattern using two patterns, namely Spot and Term, and usually done through a tender by the PES, but that is not publicly traded or are traded on a limited basis such as the ALC and other crude oil. Comparison between the total Spot Vs Term is approximately 30% vs. 70%. Efficient Purchasing Price of Crude Oil and Fuel Products From the selection of appropriate purchasing strategy, Petral managed to make savings in the year 2011 as follows: 1. The purchase price of crude oil Petral average of USD 113.95 per barrel compared to the average market price of USD 119.45 per barrel. 2. The purchase price of Premium gasoline Petral average of USD 118.50 per barrel compared to the average market price of USD 123.70 per barrel. 3. Solar Petral purchase price average of USD 126.70 per barrel compared to the average market price of USD 132.90 per barrel. Reasons why Singapore as base Singapore is the center of MM and trade of oil products in Asia and the gathering place for the trading arm / MM and supplier of petroleum products. Singapore is one of the MM and fuel trading hub of the world, such as Geneva, London, Houston, Dubai, and Singapore itself. To date none of the companies that incorporated Indonesia able to make an offer to the MM and oil products Pertamina / PES. Avoid / reduce the political pressures that are common in MM and the procurement of petroleum products. Singapore is a place of publication commonly referred to by the players in the market for crude oil and petroleum products.

Some lawmakers have also been periods of 2009 and expose corruption behind this Petral tender. Ade of David and Saul, a former member of the House Boy, along with attorney's office visited the Johnson Panjaitan Petral. They asked for clarification regarding the allegations of collusion in practice tender.Selain with two companies, direct procurement is also done with the Kuwait Petroleum Company and Petronas (Malaysia). Especially for the PTT Thailand and Malaysia's Petronas, Pertamina in cooperation with both the oil companies in the framework of cooperation Ascope (Asean Council on Petroleum), the container of oil antaperusahaan national cooperation in ASEAN. This is in accordance with the rules and done to avoid the practice of brokering and mark-up price. Meanwhile, the purchase of premium gasoline is always procured through open tender participated by 28 companies and traders Major Oil Company (MOC). Petral buy premium petrol per month over 8 million barrels. For the procurement of the solar spots, Petral hold an open tender was attended by 30 companies. As for the long-term procurement of designated four oil companies namely Kuwait Petroleum Company, Petronas of Malaysia, PTT Thailand, and S-Oil-owned Saudi Aramco. The appointment of these four companies was intended to prevent hoarding and speculation the Singapore trader adverse price Pertamina and practices of subsidized diesel smuggling to Singapore.