Spotlight: Unocal Negotiating Indonesian Steam Debt
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El Segundo-based Unocal Corp. said its Unocal Geothermal subsidiary has received only $900,000 of $4.3 million owed by Indonesia for March steam deliveries to the Gunung Salak power plant. Unocal said it’s owed another $44 million, mostly from earlier steam sales, and $12 million of that is due by the end of August. The company said it’s in discussions with the Indonesian government to resolve the debt. Indonesia’s currency crisis is to blame for the $3.4 million nonpayment, Unocal said.
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