News Post
Oman to invest $7B on new Indonesia refining, petrochemicals complex
The
refinery would be built in Indonesia's Riau province, with the oil products being purchased by state-owned Pertamina.
The
project is now in the process of issuing of permits, and groundbreaking is expected to begin in 2016. An agreement was also signed for the supply of crude oil, but details on the amount and price were not disclosed.
Indonesia's fuel output has suffered from a lack of investment in its
refining sector since the
construction of its last
refinery was completed in 1994.
Oil and gas company Pertamina has 1 MMbpd in
refining capacity, which it plans to raise to 2.3 MMbpd through upgrades and additional plants.
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