Apr 13 04:18Pertamina, Aramco considering to build oil refinery
Jakarta (Antara News
) - Indonesian state-owned oil company Pertamina is considering to build an oil refinery in cooperation with the Saudi oil company Aramco.
Pertamina`s vice president director Iin Arifin Takhyan said here on Wednesday based on Law Number 22 of 2001 on oil and gas there was a chance for companies other than Pertamina to build a refinery plant in the country.
Earlier, Pertamina and Chinese oil company Sinopec had signed a memorandum of understanding for the development of an oil refinery plant with a capacity of 100,000 barrels a day in Tuban, East Java.
The signing of the MoU was done in China in 2005. The two companies planned to materialize the development of the plant this year.
The business of oil refinery plant development in Indonesia is still promising as the country still imports around 300,000 barrels of fuel oils per day.
Indonesia`s crude oil production reached 1.1 million barrels a day and around 70 percent of it or 770,000 barrels are processed into fuel oils in Pertamina`s refinery plants for distribution in the country while the rest is exported.
Fuel oil consumption in the country reaches around one million barrels a day so that Indonesia has to import around 300,000 barrels a day. (*)