Indonesia’s Pertamina to postpone refinery projects
Accordingly, the completion of stage one of the Balikpapan project will be delayed to 2020 from 2019 while stage two will be postponed to 2021. Once completed, the project is planned to increase the refinery’s capacity to 360,000 barrels/day from 260,000 barrels/day.
The company is also planning to postpone the completion of Cilacap refinery’s capacity expansion work from 348,000 barrels/day to 400,000 barrels/day to 2023 from 2021. The Cilacap project was worth $5 billion and was going to be conducted jointly with Saudi Aramco.
Another delay involves completion of the new 300,000 barrels/day Tuban refinery project, which is jointly conducted with Rosneft. The company is planning to discuss pushing the completion of the project to 2023-2024 from 2021.
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