OGJ Newsletter

05/31/1999
U.S. INDUSTRY SCOREBOARD 5/31 Indonesia soon will emerge as the next hot area for foreign investment in refining-marketing. The trend will get under way in earnest in 2001, when state firm Pertamina begins privatizing by offering stakes in its seven refineries, says Pertamina Managing Director Martiono Hadiantoas. He notes that 1999-2000 represents a transition period for Indonesian refineries, still running at well below capacity because of lingering fallout from the Asian economic crisis. By 2001, he says, Indonesian refineries are expected to be back up to essentially full capacity utilization, creating an ideal opportunity for private-sector participa...
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