Pertamina ensures enough fuel stock

Pertamina ensures enough fuel stock

State oil and gas firm PT Pertamina marketing director Ari
Soemarno said in a hearing with House of Representatives
Commission VII on energy late Monday that the company had enough
fuel stock for 20.2 days from last week's 19 days as some banks
had already agreed to issue letters of credit (L/C) required to
guarantee import payments.

Minister of Energy and Mineral
Resources Purnomo Yusgiantoro, meanwhile, said that based on
surveys by six international surveyors, the government proposed
an oil price range of between US$32 and $48 per barrel for the
assumption of the 2005 state budget revision. During the hearing,
both the government and the House considered raising the oil
price assumption from the existing $35 per barrel to $40 per
barrel. -- JP