Indonesia has chosen Elia Massa Manik, head of the state holding company for the plantations industry, as the new CEO of state energy firm Pertamina, sources said on March 15.
Manik, CEO of PT Perkebunan Nusantara III and former head of oil and gas company PT Elnusa, a unit of Pertamina, was appointed by Indonesian President Joko Widodo on the evening of March 14, two sources with knowledge of the issue said.
A spokeswoman for Pertamina, which dominates Indonesia's energy industry, said any announcement still has to wait for official confirmation from shareholders.
The state firm, which has a virtual monopoly on petroleum imports, leads the country in retail oil sales and owns and operates the country's main refineries.
Last month, Pertamina removed its CEO Dwi Soetjipto and Deputy CEO Ahmad Bambang, citing leadership problems. New and renewable energy director Yenni Andayani was appointed as acting CEO.
Pertamina chairman Tanri Abeng said at the time that complex recruitment and management structure issues had "obstructed cooperation," adding that there would no longer be a deputy CEO.
Soetjipto was appointed CEO of Pertamina in November 2014 by President Widodo, and had overseen efforts to eliminate corruption and slash Indonesia's fuel imports, including by developing domestic refining capacity.
Recommended Reading
Marketed: Barrel Oil Corp. Property Divestiture in Coyote, Alberta
2024-01-09 - Barrel Oil Corp. retained Sayer Energy Advisors for the sale of its oil and natural gas interest located in the Coyote area of Alberta.
Zayla Partners Acquires Energy Compensation Surveyor Effective Compensation Inc.
2024-01-19 - Denver-based ECI founder Terry Isselhardt will continue as ECI president.
Shell Sells Nigerian Onshore Business for Up to $2.4 Billion
2024-01-16 - Shell is selling its Nigerian onshore oil and gas business to a Nigerian-led energy consortium for $1.3 billion and will receive additional payments of up to $1.1 billion from the European group.
Trafigura Agrees to Purchase 1PointFive DAC Carbon Removal Credits
2024-01-16 - Trafigura’s purchase of 1PointFive’s CO2 removal credits is part of its commitment as a founding member of the First Movers Coalition to support the advancement of CO2 removal credits.
Phoenix Capital Group Acquires Bakken Mineral Interests
2024-01-16 - Phoenix Capital Group acquired about 600,000 net mineral acres across four states from AgWest Farm Credit.