Indonesia, Kuwait renew gas oil contract

State-owned oil and gas company Pertamina has renewed a contract to buy 2003 term gas oil from Kuwait for the same volume of 21.6 million barrels as it bought this year from the Middle East producer, industry sources was quoted by GulfNews Tuesday.

They said Pertamina would take 0.5 per cent sulphur gas oil from Kuwait Petroleum Corp for the January to December period. Prices for the first half of 2003 were set at a premium between 15 and 30 cents a barrel versus Singapore spot quotes. (*)