Jakarta - Saudi Aramco, the world’s biggest oil company, is reportedly planning to build a new refinery in Indonesia and help state-owned Pertamina upgrade three of its existing facilities.
The new refinery, in Tuban, East Java, will reportedly have a production capacity of 300,000 barrels a day, or a third of Indonesia’s total current capacity, according to Energy and Mineral Resources Minister Sudirman Said.
He also claimed that Saudi Aramco would be involved in upgrades to Pertamina’s refineries in Dumai, in Riau province; Balongan in West Java; and Cilacap in Central Java.
“The initial investment will be about $10 billion,” Sudirman said.
Representatives from Saudi Aramco could not immediately be reached for confirmation.
Sudirman claimed the company had requested a tax holiday in light of its investment, and that the Finance Ministry was amenable to providing a tax holiday of up to 20 years.
Finance Ministry officials could not immediately be reached for confirmation.
Sudirman also claimed that Saudi Aramco would be a partner rather than a rival to Pertamina.
“We will sit down with them and with Pertamina soon to find out what are the gaps [in the negotiations],” he said.
Pertamina president director Dwi Soetjipto said there were other potential investors besides Saudi Aramco interested in developing refineries in Indonesia.
“We will evaluate. Most important is how to get it done,” he said.
Indonesia’s six refineries, owned by Pertamina, have a combined capacity of just 649,000 barrels per day, against domestic consumption of 1.26 million barrels per day.
Officials say the country needs at least two new refineries to fill in the gap.
Source : Jakarta Globe
Govt to Hold Bilateral Meetings With OPEC States in Vienna
Jakarta - The government is scheduled to hold bilateral talks with oil-producing nations on the sidelines of the annual Organization of the Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, this week.
Global Oil Prices Drop as US Supplies Increase
Jakarta - Global oil prices decrease on Thursday, October 22, 2015, following the increase in the United States crude supply, which raises concern on excessive global crude supplies.
Palu - State-owned oil and gas company, Pertamina will build a gas power plant in Palu city, Central Sulawesi province.
Website Policy and Disclaimer. The information contained in this website is for general information purposes only. The information is provided by PT. Patra SK and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of PT. Patra SK. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Every effort is made to keep the website up and running smoothly. However, PT. Patra SK takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
© 2014 PT PatraSK All rights reserved