Red-Carpet Restructuring
Wednesday, July 27, 2011
The agreement to restructure the Tuban Petro Group’s debts benefits Wendratno more. The government, Pertamina, and BP Migas must guarantee raw material supplies and purchase products of Tuban Petro’s subsidiaries. The model is similar to a previous restructuring scheme by IBRA that failed.
arsip tempo : 173510847576.
TWO large chimneys in the refinery complex of PT Trans-Pacific Petrochemical Indotama (TPPI) soar to the skies. Smoke billowing upwards indicates that the factory located in Tanjung Awar-awar, East Java is working. Trans-Pacific Petrochemical is indeed still producing, relying on condensate supplies from the government’s upstream oil and gas regulator BP Migas. The 40,000 barrels of supply, however, are only enough to operate half the capacity.
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