Pertamina cancels crude processing deal with SPC
Monday, September 8 2003 - 04:53 PM WIB
State oil and gas company Pertamina said on Monday it had cancelled deal to process 62,500 BPD of Sumatran Light Crude (SLC) with Singapore Petroleum Company (SPC) which was originally scheduled to commence by the end of this month, a company official said.
?Pertamina has decided to cut off crude processing deal to refine SLC at SPC?s refinery because SPC was asking for processing fee revision. But deal to process 30,000 BPD of Iranian Light Crude with SPC for 60 days starting October is still on,? said Pertamina president Baihaki Hakim in a parliamentary hearing.
Bahiaki said Pertamina would seek to procure fuel products in the spot market through its subsidiary Pertamina Trading Limited (Petral).
Pertamina was seeking crude processing deal to anticipate major turnaround at Balongan refinery in central Java, which was scheduled to be completed in November. (alex/godang)