Caltex Pacific Indonesia renamed Chevron Pacific Indonesia

PT Caltex Pacific Indonesia (CPI) has been renamed as PT Chevron Pacific Indonesia following the recent merger of the U.S-based oil company's shareholders Chevron and Texaco, Media Indonesia reported on Monday.

CPI's president director Wahyuddin Yudiana said in Pekanbaru at the weekend that the change in the company's name had been approved by the Ministry of Justice and Human Rights.

He said that the change was made due to the merger of its shareholders Chevron and Texaco which jointly owned CPI and several other companies in Indonesia including PT Unocal Indonesia.

As Chevron had been chosen as the name of the merged company, its subsidiaries including CPI and PT Unocal Indonesia should also be renamed Chevron, he said.

CPI, one of the major oil producers in the country, operates several oil blocks in Riau, with production of about 480,000 barrels per day. (*)