Word: pertamina
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Dates: during 1970-1979
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...military commander who is most deeply involved in Indonesia's economics is Lieut. General Ibnu Sutowo. He bosses the state-owned oil company, Pertamina, which supervises operations of the 41 foreign oil companies that annually pump some 290 million barrels of petroleum from Indonesia's rich fields. Already Suharto's anticorruption commission has closeted itself for hours with Sutowo, digging into his use of Pertamina funds to expand his own influence and wealth. "I am convinced I have done nothing wrong," insisted General Sutowo in an interview with TIME Correspondent Louis Kraar. "Everybody is talking about corruption...
...readily admits, however, that he uses some $500,000 a year of Pertamina's funds in a one-man aid program. In recent ventures, Sutowo has donated television stations, mosques, airports, dormitories and hotels to army posts and towns throughout Indonesia...
...Indonesian restaurant in New York to several American oil company executives. Before the meal had ended, he had pledges of $25,000 from each of the Americans. Sutowo has already acquired property on Manhattan's East Side. Another of his pet plans is a foundation, to be called Pertamina International, which he plans to use to raise funds for Indonesian cultural and educational projects in the U.S. "We expect donations to come from Americans-people who are friendly to Indonesia." And who might they be? "Oil companies," Sutowo answers promptly. But he insists that his latest projects are private...
Commuting from Singapore. All companies that enter the search pay heavily for the privilege. They must join a partnership with Pertamina, the government oil monopoly, which is run as an independent fiefdom by Lieut. General Ibnu Sutowo. The initial charge can run to as much as $7,000,000 in so-called signature fees-"just for a hunting license," as one oilman puts it. The companies take all the risks. If oil is found, Pertamina allows a foreign contractor to keep the first 40% to pay exploration and production expenses; the remaining oil is split, with the government monopoly taking...
...addition to freewheeling Pertamina, the army is involved in virtually every part of Indonesia's economy-usually less out of greed than sheer need. Under President Suharto's austerity budget, armed forces units are required to provide between 25% and 40% of their own support. To raise funds, the army recently announced plans to commercialize engineering and transport-in effect, hiring itself out as an Indonesian version of Hertz Rent A Car. Some other examples of military business enterprise...