Petrobas to invest US$150 m in fuel storage tanks
Friday, June 15 2007 - 01:44 AM WIB
PT Petrobas Indonesia is preparing the construction of 15 fuel storage tanks, worth US$150 million, in East Java and East Kalimantan to support its non-subsidized industrial diesel oil and marine fuel oil retail buisness in the two regions, Investor Daily reported on Friday.
Company president Basri Kinas Mappaseng disclosed that the storage tanks would have a capacity of 50,000 – 100,000 kiloliters. “We would build them next year,” he said in Jakarta on Wednesday.
"We hope to find locations for the the fuel storage tanks soon. We are still waiting for permits from (downstream oil and gas authority) BPH Migas," Basri said.
According to Basri, Petrobas, a subsidiary of Malaysian state owned firm Petronas Bhd, has entered non-subsidized fuel retail business in Jakarta, Depok, Bogor, Tangerang, Bekasi and Bandung. Petrobas expects to increase its diesel oil sale by 5-10 percent from 25-30 million liters per month last year.
BPH Migas' committee member Eri Purnomohadi said the agency had yet to receive any application for permit from the company to build the fuel storage tanks. (*)