Word: petramina
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Involvement in the oil industry in particular is growing. Most recent of a spate of aid-investment programs is a private $40 million loan to Indonesia's Petramina for guiding oil tanks and pipelines in Western Java. The late-February loan made by the Japanese companies Mitsui and Marnbeni-lida, is to be repaid in oil exports to Japan...
According to Petramina's General Sutowo, Japan now consumes one-half of Indonesia's oil, some 70 per cent of Indonesian oil exports. In late February, the Japanese entertained Sutowo in Tokyo, agreeing to a 30 per cent rise in price for Indonesian oil sold directly to Japan, in an apparent attempt to reduce dependency on foreign oil companies...
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