Pertamina needs $1.6 billion to import oil in Sept
Friday, August 26 2005 - 09:49 AM WIB
State-owned oil and gas company PT Pertamina needs between US$1.5 billion and $1.8 billion monthly to finance oil imports, a minister said Friday.
Minister of State Enterprises Sugiharto said for September, Pertamina planned to spend around $1.6 billion to import a total of 700,000 barrels of crude oil and oil products.
The huge demand of Pertamina for dollars to finance its imports has been blamed as the main factor behind the currenct decline in the rupiah. (dino)