SPIJ protests Unocal move

Fri, 17 Sep 1999, 00:00 WIB | Source: JP

JAKARTA (JP): Local pipemaker PT Seamless Pipe Indonesia Jaya
(SPIJ), a subsidiary of the Bakrie Group, protested on Thursday
the move of American oil and gas company Unocal Indonesia to
unilaterally terminate a sales and purchase contract.

SPIJ president Nugroho I. Purbowinoto said in statement that
it would suffer a loss of US$12 million due to termination of the
contract.

He said Unocal had terminated the contract to buy pipes from
SPIJ after citing a reduction in drilling activities.

Nugroho said Unocal's explanation did not tally with a later
call from the company in a newspaper for pipes of a similar type
previously provided by SPIJ under a sales and purchase contract.
(jsk)

View JSON | Print