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Good current events article
about Indonesia and BP. As stated in the article, Indonesia is Asia's only
OPEC member country.
Ronan
JAKARTA, Sept 26 (Reuters) - Indonesia's state oil
firm Pertamina and China's National Offshore Oil Corp (CNOOC) signed an $8.5
billion liquefied natural gas (LNG) deal on Thursday to supply a planned
terminal in Fujian province for 25 years.
Under the deal, oil major BP plc <BP.L> will supply 2.6 million tonnes of LNG per year to CNOOC -- the parent of Hong Kong and New York listed CNOOC Ltd <0883.HK> (nyse: CEO - news - people) -- from the giant Tangguh field in the remote eastern province of Papua. A Pertamina official, who did not wish to be named, said CNOOC had bought a 12.5 percent stake in the massive Tangguh field from BP, as part of the deal. He said BP had owned a 49.66 percent stake in the field. Indonesia is Asia's only OPEC member and has a production quota of 1.125 million barrels per day. Copyright 2002, Reuters News Service |