Pertamina, SIETCO sign deal
Tuesday, October 3 2000 - 04:00 AM WIB
State oil and gas company Pertamina signed on a crude precessing deal with Shell International Eastern Trading Company (SIETCO), Monday, allowing the latter company to refine the former's crude oil.
Pertamina's spokesman Ramli Djaafar said in a statement that under the deal signed by Pertamina's president Baihaki Hakim and SIETCO's president Glyn Hallyday, SIETCO would refine 50,000 bpd of Arabian Light Crude, which will be imported by Pertamina.
Ramli said the deal had been approved by the ministry of energy and mineral resources and would be evaluated from time to time.
The contract is valid for three months from Oct 1 to Dec 31 this year.
"The crude to be refined will produce 16 percent mogas 97 octane, 20 percent kerosene, 18 percent automotive diesel oil, 43.5 percent fuel oil and 2.5 percent of refinery balanced," Ramli said.
Pertamina's refinery thus far supply 80 percent of the country's fuel consumption, with the remaining 20 percent fulfilled by fuel imports. (*)