Thursday October 4, 4:58 PM Malaysia's Petronas in bid to sell subsidised fuel in Indonesia Malaysia's state-owned oil firm Petronas is among four companies seeking regulatory approval to sell subsidised fuel products in Indonesia next year, an Indonesian official said Thursday. State-owned Pertamina is currently the sole distributor of subsidised fuels.
Tubagus Haryono, chairman of Indonesia's downstream oil and gas regulator BPH-Migas, said that Petronas along with local companies Aneka Kimia Raya, Elnusa and Sigma Rancang Bangun Persada, were seeking approval. Haryono said Petronas and other foreign companies including Royal Dutch Shell unit Shell Indonesia were now licensed to distribute only non-subsidised, high-grade fuel products in Indonesia because they are not widely used. Subsidised fuel prices are controlled by the government. The last hike was in October 2005 when prices were raised by an average of 126 percent, triggering a spike in inflation and interest rates. Haryono said his office was awaiting the responses of Shell, BP Plc and Total about whether they too wish to participate in the distribution of subsidised fuel in Indonesia before it starts the process of determining whether licenses will be granted. http://sg.biz.yahoo.com/071004/1/4bn1a.html _________________________________________________________________ Help yourself to FREE treats served up daily at the Messenger Café. Stop by today. http://www.cafemessenger.com/info/info_sweetstuff2.html?ocid=TXT_TAGLM_OctWLtagline
