India Oil says in talks to upgrade Indonesian refineries
Friday, June 18 2004 - 12:49 AM WIB
State-owned oil refiner Indian Oil Corp is in talks with Pertamina to upgrade three of Pertamina's refineries in Indonesia, a senior IOC official was quoted by Dow Jones as saying late Thursday.
"The two companies are in serious discussions. The prospects in Indonesia look good for us. IOC has kept all its options open," the IOC official said.
IOC has previously said it plans to open a unit in Indonesia by September 2004 in a bid to exploit the business opportunities when Indonesia's oil and natural gas sector is deregulated in 2005.(*)