Weekly Business

PERTAMINA
Pertamina Blocked from Buying Medco

THE House of Representatives Energy Commission rejected on Thursday last week plans by state oil company Pertamina to acquire a 50.7 percent stake of Encore International Limited in Medco Energy, a company owned by the Arifin Panigoro family.

Commission Deputy Chairman Effendy Simbolon said Pertamina had better invest in oil and gas exploration than acquire the Medco shares. "All members of the commission

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