Tag Archives: Indonesia

The country consumes 1.4 million barrels of oil per day.

The first 44.000 mt evenly split propane butane parcel was delivered in October 2016.

With oil demand at about 1.2 million bpd and production at about 800.000 bpd. investors in Indonesia’s oil and gas sector will have a big supply gap to fill.

Both Iran and Indonesia have already announced serious plans to boost the level of their trade to as high as $2 billion.

The projection takes into account the geothermal development in the Philippines that has reached its existing reserves.

The project would be 45 percent owned by Rosneft and 55 percent owned by Pertamina.

Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta.

Pertamina and NIOC signed a memorandum of understanding (MoU) to carry out a preliminary study on the oil and gas fields.

Pertamina has signed a joint venture agreement with Aramco for the Cilacap refinery upgrade with a total investment value of around US$5.8 billion.

PTTOR will include service stations. petroleum products. and lubricant products.