Saudi Aramco is looking for further investment opportunities in Indonesia's downstream refining and petrochemicals industry, the company's CEO said on Thursday, after initiating a $5.5 billion project to upgrade the country's largest
Pertamina and Saudi Aramco are expected this week to take a major step in forming a joint venture that will include a $5 billion upgrade to Indonesia's largest refinery complex, a director at the Southeast Asian firm said.
Indonesia's Pertamina has failed to lift about 270,000 tonnes of diesel from long-term supplier Kuwait Petroleum Corp this year, as demand for the fuel has dipped in Indonesia and on supply disruption in Kuwait, industry sources said.
Indonesia's state-owned energy firm Pertamina has signed Memoranda of Understanding (MoUs) with Chinese, Japanese and Saudi energy firms as part of a $25 billion drive to upgrade five of the former Opec member's refineries.
Indonesia expects to sign agreements with China's CNOOC, Saudi Aramco and two other oil companies next week covering direct oil sales and refinery investments in Southeast Asia's largest economy, a senior Pertamina official said.
Petral, the trading arm of Indonesian national refiner Pertamina, bought its first Qatari condensate cargo in a tender for May delivery as it seeks to widen its crude selection, trade sources said on Monday.
Pertamina, one of the largest
Indonesia's Pertamina on Monday said it has signed a preliminary agreement with Kuwait Petroleum International (KPI) to build a new refinery in Indonesia with capacity of 200,000 to 300,000 barrels per day (bpd).
Indonesia's state oil firm PT Pertamina is in talks with Saudi state oil giant Saudi Aramco to import 200,000 barrel per day (bpd) of crude oil, Pertamina's president director, Karen Agustiawan, said on Monday.
Pertamina currently imports
Indonesia's state oil firm Pertamina signed an agreement worth about $1 billion to build a liquefied natural gas (LNG) plant on Sulawesi island with Japan's Mitsubishi and Medco Energi.
"We will build a plant with a capacity of 2 million t