Cepu Oil Speculation

The Ministry of Mines and Energy and Pertamina are in disagreement over oil deposits in Cepu. And ExxonMobil is keeping quiet about it.

March 6, 2001

CEPU. The name of a small town in the border area between Central and East Java has suddenly become pleasing to the ears. It was out of the blue that the name appeared in Upstream, a trade magazine that reported that the oilfield in Cepu has an oil deposit of up to 2 billion barrels. In this bad economic situation, which has worsened with the rupiah almost at 10,000 to the dollar, the report is a godsend. If true, it is not unlikely that the oil

...

More Articles