Indonesia’s Pertamina may seek new Tuban refinery partner due to Rosneft uncertainty
INDONESIA may seek a new partner for state-run Pertamina’s refinery project in Tuban, East Java, due to uncertainty over its partnership with Russia’s Rosneft, the chief economic minister has said.
The uncertainty was over geopolitical-related problems making it difficult for Russia’s largest oil producer to continue, Airlangga Hartarto told reporters on Thursday (Oct 5).
He did not specify whether or not Rosneft had signalled it would quit the project. Rosneft could not immediately be reached for comment out of office hours in Russia.
The joint venture project covers the building of a refinery and petrochemical plant, with Pertamina as the majority stakeholder.
“Because Russia is facing a blockade, economic and geopolitical problems, it might be difficult to continue, we will find other partner,” Airlangga said.
Pertamina said last month it aimed to reach a final investment decision soon for the Tuban refinery.
A NEWSLETTER FOR YOU
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
The plant, which produces products such as paraxylene, benzene, and light naphtha, is expected to have a capacity of 300,000 tonnes annually. REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected
Indonesia central bank says SRBI auction will be held twice a week to attract more inflow
Thai police raid illegal bitcoin mining operation
Thailand’s April inflation rises slightly, first time in 7 months