Pertamina?s Petral selects Largo Vista to market oil products in China, other Asian nations

U.S.-based energy company Largo Vista Group Limited announced on Tuesday it had been granted a Special Power of Attorney by Pertamina Energy Trading Ltd. (Petral) to represent Petral in sales activities including gas oil, fuel oil and liquid petroleum gas in China and other Pacific Rim countries.

Largo said the agreement for 2003 would empower the company to initiate negotiations for Petral in China, including arranging meetings, contract negotiations, visits by senior officers and any other activity to benefit the business partnership.

Petral is a wholly owned unit of state owned oil and gas company Pertamina.

According to Largo Vista, Petral currently delivers up to 216,000 barrels of oil daily to the U.S., Australia, China, Taiwan and Europe and is looking to expand further into China and the Indochina markets of Cambodia, Vietnam, Laos and Thailand.

"We believe this business partnership will significantly assist Largo Vista's efforts to grow and prosper," said Chuming Li, general manager of Largo Vista's China operations in a statement. (robert)