Indonesia to allow private investors to build oil refineries
Darmin Nasution, Coordinating Minister of Economics of Indonesia, stated that refinery projects will be opened to private investors in the future on condition that refined products are sold to state-owned oil company Pertamina for distribution. Pertamina and its partners had previously had a monopoly on Indonesian refinery projects. Nasution added that investors will be able to request tax or non-tax incentives from the government.
Pertamina is currently operating four refineries while the government is hoping to build new refineries or expand existing facilities in order to cope with Indonesia’s demand for fuel. Pertamina will reportedly upgrade its refinery in Cilacap, Central Java in cooperation with Saudi Aramco.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Activity pick-up sends Asian spot C3 market into recovery mode
- Total polymer imports to EU28 hit record high in 2019
- March PE expectations in Turkey weighed by new capacities, cooling demand
- PP prices hit 4-year low in China as demand remains minimal
- Taiwanese major’s March PVC offers to Asia up despite virus fears
- Virus-impacted demand inflicts toll on Vietnam's PE market
- HDPE fails to track firmer trend of LD, LLDPE in Europe
- China’s ABS market on soft path dragged by subdued demand
- Softening trend prevails in SEA PP market as virus fears dampen sentiment
- Chinese producers cut PET offers further amid coronavirus outbreak