BPH Migas to hold tender for subsidized fuel distribution
Thursday, July 3 2008 - 01:23 AM WIB
"We shall start holding tenders for the contracts to distribute subsidized fuels," agency chairman Tubagus Haryono was quoted by Media Indonesia as saying on Wednesday.
The agency is now formulating the terms and agreements for the contract, he said.
He also said the agency welcome a proposal from Tuban, East Java-based petrochemical firm PT Trans Pacific Petrochemical Indotama (TPPI) to participate in the provision of gasoline for the domestic market. The firm will change its mode of operation to produce gasoline with a processing capacity of 50,000 barrels per day.
Tubagus said the firm may take part in the bidding that the agency will hold or sell its products to state owned oil and gas company PT Pertamina.
He said the gasoline that will be produced by TPPI would be enough to meet the demand in East Java.
TPPI is owned by PT Tuban Petrochemical Industries or Tuhan Petro (59.51 percent), Pertamina (15 percent), Itochu Corporation (4,25 percent), Tuban Petrochmeical Pte Ltd (17 percent), dan Sojitz Corporation (4,25 percent). (*)