Pertamina, Sietco sign deal

JAKARTA (JP): State oil and gas company Pertamina signed on Monday a crude refining deal with Shell International Eastern Trading Company (Sietco) allowing the latter 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 Hallday, Sietco would refine 50,000 barrels per day (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 refineries thus far supply 80 percent of the country's fuel consumption, with the remaining 20 percent fulfilled by fuel imports. (jsk)