Indonesia considering extension of fuel oil contracts with mideast
Regional-Indonesia, Economics, 7/21/2000

Indonesia will explore possibilities of extending fuel oil sale contracts, especially on premium gasoline, with some Middle Eastern countries, instead of with Kuwait, in a bid to augment the supply of the commodity from these countries.

"Such possibility is being explored in the hope that the contract on fuel oil imports for next month could be renewed," mines and energy minister Susilo Bambang Yudhoyono told the press after meeting Vice-President Megawati in Jakarta on Thursday evening.

According to the minister, the measure is important because the country is in a dire need of premium gasoline. "so we have to do whatever we can to meet the urgent need. whether it is profitable or otherwise is another problem. the most important is to secure domestic consumption of the product."

However, Susilo did not elaborate on Middle Eastern countries being explored to increase Indonesia's oil imports. He believed that the premium shortage would be overcome in the next two or three days. "Again, we are trying to optimize the supply.

Next monday, we will also go to Petronas in Malaysia to discuss the sale contract."

On the extra oil import from Petronas, Pertamina's president baihaki hakim has said on another occasion that the consignment of 200,000 barrels of premium gasoline to Indonesia was still under discussion.

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