Pertamina set to buy Tengiz crude
Sunday, December 22 2002 - 05:27 PM WIB
State oil and gas company Pertamina said it was eyeing to buy 2 million barrels of Tengiz light crude from Kazakhstan scheduled for next year?s first quarter shipments.
?We have completed negotiations regarding the crude price. The trading company is offering good price fro the crude. We are now assaying the crude. If it fits, we?ll order two cargoes for next year?s first quarter shipments,? said president Baihaki Hakim Sunday.
Baihaki said the crude is set to be refined in Balikpapan refinery in East Kalimantan.
Baihaki further said Pertamina is aggressively seeking to diversify crude source and is increasing the volume of non-spot crude purchasing.
?We are looking to do similar deal to purchase West African crudes and Iranian crude,? said Baihaki. (alex/godang)