Tag Archives: The Jakarta Post

Oil rebounded in Asian trade Tuesday, buoyed by Saudi Arabia’s decision to cut output more than it had pledged as the virus-hit world economy cautiously emerges from lockdown. United States benchmark West Texas Intermediate for June delivery was up 1.37 percent at US$24.47 a barrel in morning trade. Global benchmark …

Saudi Aramco describes its Abqaiq oil processing facility there as ".the largest crude oil stabilization plant in the world.".

The Iranian government has given Pertamina an early May deadline to seal a deal for developing Iran’s Mansouri oil field.

Traders are also nervously awaiting Trump'.s decision on whether or not to continue with the Iran nuclear deal. which he has in the past derided.

The country consumes 1.4 million barrels of oil per day.

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

Pertamina. which owns 55 percent of both projects. was previously the sole off-taker of output by the Cilacap and Tuban refineries.

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