Pertamina lowers target

Pertamina has lowered its initial 2006 target of establishing 2,000 new retail outlets to 700 because the effort has gone slower than planned, says a Pertamina official. “Many investors have expressed interest in partnering with us. Currently we have received 2,428 proposals,” Pertamina Trading and Marketing Deputy Director Hanung Budya said. Pertamina has agreed to 630, rejected 415 and continues to evaluate the rest, he said. Pertamina’s plans include investing US$22 million in 2007 to build at least 55 wholly owned and operated fuel stations, he said. (August 24, 2006)