Pertamina bargaining for an equity in SRC

State oil and gas company Pertamina is continuing its negotiations with BP for acquiring a stake in Singapore Refinery Company which is jointly owned by that firm, Caltex and Singapore Petroleum Company, Pertamina president director Baihaki Hakim said on Tuesday.

?Our negotiations are still continuing; we are bargaining with them,? Baihaki told reporters on the sidelines of a seminar on the new oil and gas law in Jakarta.

Baihaki did not mention the portion of the SRC stake it wants to acquire.

Pertamina is determined to increase its fuel supply for the domestic market by producing that commodity domestically. (godang)