Pertamina gets $3 b standby loan

The Jakarta Post ,  Jakarta   |  Thu, 04/09/2009 7:09 PM  |  Business

State-owned gas and oil firm PT Pertamina has received a standby loan worth US$3 billion (Rp 36 trillion) from 13 local and international financial institutions, state news agency Antara reported.

Pertamina financial director Frederick Siahaan said Thursday the company had allocated capital expenditures amounting up to $2 billion.

“We will use the fund to finance some upstream and downstream projects aimed at boosting oil production and smoothing oil and liquied petroleum gas [LPG] distribution to the public,” he said. (ewd)

 

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