Indonesia PGN to Hike Supply

摘要

Indonesian gas distributor PGN plans to spend up to 1.5 trillion rupiah ($175 million) this year buying stakes in several oil and gas blocks, a company official told Dow Jones Newswires. It also intends to acquire minority stakes in two oil and gas companies, Investment Planning Director Wahid Sutopo said, without identifying the firms. He added that PGN will continue to look at ways of increasing gas supplies to domestic customers.