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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ronayre who wrote (90887)	5/14/2001 8:40:33 PM
From: ronayre	Respond to of 95453

Thailand to refine crude oil for Indonesia BANGKOK, Thailand (AP) - Thailand will refine crude oil for Indonesia as part of a deal under which Thai fishermen will be allowed to fish in Indonesian waters, the leaders of the two countries said Monday. Thai Prime Minister Thaksin Shinawatra and visiting Indonesian President Abdurrahman Wahid told a news conference that an agreement has been reached in principle to refine about 200,000 barrels a day. Indonesia's state-run oil company Pertamina approached the Petroleum Authority of Thailand to provide it with refined products, Thaksin said. Indonesia produces between 1.4 million and 1.5 million barrels of crude oil, but its refining capacity is under 1 million barrels a day. No other details were disclosed. ``We hope the cooperation deal will be a plus for both countries,'' said Wahid who was on a one-day visit to Thailand. Wahid said that in exchange for getting the crude refined by Thailand, Indonesia would let Thais catch fish in Indonesian waters. The oil and fish deal was part of a series of economic cooperation agreements signed by the two countries during Wahid's visit. The other agreements deal with rubber, tourism and other agricultural products. No details were given. Wahid, who is facing intense political opposition to his rule, denied that he was planning to resign. He refused to answer a question whether he was planning to dissolve parliament or impose martial law. ``I won't answer,'' he said. - AP