Left at the alter: Jakarta calls off huge Exxon Gas deal
Article Abstract:
Exxon Corp and the Indonesian state-owned oil company Pertamina have failed to finalize a contract to exploit the Natuna natural gas field. Indonesia plans to utilize the Natuna field, which is located in the South China Sea, to maintain its export levels of liquefied natural gas (LNG) after its current contracts expire around the year 2000. Pertamina indicated that a dispute arose over environmental and legal issues. Exxon reportedly wanted the Indonesian government, independent of Pertamina, to be contractually responsible, along with Exxon, in the event of any environmental damage.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Natuna's natural riches
Article Abstract:
Indonesia is counting on an impending deal between Exxon and Pertamina, the state-owned oil company, to keep foreign exchange earnings up as oil reserves are depleted. The agreement concerns development of an estimated 45 trillion cubic feet of natural gas under the Natuna Sea. Financial details were finalized in Dec 1992 but tax, environmental and contractual questions with Japanese utilities must still be settled. High potential profits have prompted Exxon and other foreign oil firms to invest in Indonesia despite large government royalties.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Fruits of deregulation
Article Abstract:
The merger of Kyodo Oil Company Ltd and Nippon Mining Company Ltd characterizes Japan's efforts to strengthen its petroleum industry. The merger of the two companies will result in the formation of Nikko-Kyoseki which is expected to become the country's second-largest petroleum giant. The Ministry of International Trade and Industry has been deregulating the petroleum industry since 1987 in a bid to make it more competitive in the international market.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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