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Indonesia petchem firm TPPI declares force majeure

Mon Feb 25, 2008 10:46pm EST

SINGAPORE, Feb 26 (Reuters) - Indonesian petrochemical firm Trans Pacific Petrochemical Indotama (TPPI) has declared force majeure this week due to a problem with port facilities, an official said on Tuesday.

"The port facility is considered unsafe for navigation at the moment," said Russell Kelly, director of PT Tuban Petrochemicals Industries, which is a majority stakeholder in TPPI, adding that the force majeure was declared on Monday evening.

Kelly declined to comment further on the issue or on the duration of the force majeure.

Trading sources said deliveries of feedstocks condensate and naphtha, as well as loadings of petrochemical and oil products for sale had been stopped. (Reporting by Maryelle Demongeot; Editing by Ramthan Hussain)



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