ChevronTexaco eyes downstream market
Thursday, May 6 2004 - 01:23 AM WIB
ChevronTexaco is added to the list of foreign companies eyeing the country's oil downstream market following similar moves taken by Petronas, Shell and Total, Investor Daily reported on Thursday.
?The company is mulling and seriously interested in the fuel market,? Tubagus Haryono, head of downstream authority BPH Migas, was quoted as saying by the daily.
ChevronTexaco had already meet all the requirements to become a player in the domestic downstream market. One of the requirements is having oil reserves in the country.
BPH Migas is now preparing the necessary regulations for the opening up of the downstream market, which are expected to be ready in 2005. (*)