The Jakarta Post, Jakarta | Thu, 04/09/2009 7:09 PM
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, Antara state news agency reported.
Pertamina's Financial Director Frederick Siahaan said on Thursday that 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 smoothening oil and Liquied Petroleum Gas (LPG) distribution to the public,” he said. (ewd)
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