Pertamina mulls expanding fuel deal with Sietco

State oil and gas company Pertamina is mulling expanding its crude processing deal with Shell International Eastern Trading Company (Sietco).

Pertamina's president Baihaki Hakim said on Thursday that Pertamina might ask Sietco to refine another 50,000 barrels of crude oil owned by the state company in January, 2001.

Sietco is currently refining 50,000 barrels of crude oil owned by Pertamina under the deal signed by both companies on Oct. 2, 2000. The deal expires on Dec. 31, 2000.

Baihaki, who was speaking during an event to celebrate the 43rd anniversary of Pertamina in Jakarta, did not disclose the reason behind the expansion of the crude processing deal.

Aside from Sietco, Pertamina has also signed a 20,000 barrels crude processing deal with Malaysian state oil and gas company Petronas.

Pertamina made the crude processing deal as an alternative to fuel imports. Pertamina could only meet 80 percent of the domestic fuel demand from its refineries. (Epin)