ChevronTexaco determined to enter Indonesia?s downstream oil sector
Thursday, February 13 2003 - 04:14 AM WIB
US oil giant ChevronTexaco, currently having a strong presence in Indonesia?s upstream oil sector, has decided to do downstream oil business following the implementation of the country?s law which liberalizes the oil and gas sector, Koran Tempo daily reported Thursday.
?Caltex will develop downstream businesses in Indonesia,? the paper quoted as saying Humayunbosha, president director of PT Caltex Pacific Indonesia (CPI), the Indonesian unit of Chevron Texaco and the country?s largest onshore oil producer.
Humayunbosya said however that doing the downstream oil businesses would be Caltex Oil Company of Singapore, another unit of ChevronTexaco.
He urged the government to soon issue regulations on downstream oil and gas businesses to implement the current oil and gas law that became effective late in 2001. (*)