Indonesia to Build Oil Refineries with Total Capacity of 1 Million bpd, Minister Says

Tempo

03-11

TEMPO.CO, Jakarta - Indonesia will build oil refineries on several of its islands, including Kalimantan and Sulawesi, with a total capacity of 1 million barrels per day, upgrading from a planned single refinery with a 500,000 bpd capacity, the energy minister said.

Last week, the government said it wanted to accelerate 21 natural resource processing projects worth $40 billion, including several coal gasification projects, building oil storage, and expanding its oil refining capacity.

Minister Bahlil Lahadalia said late on Monday, after a meeting with President Prabowo Subianto, that the planned capacity for the new refineries would be doubled to 1 million bpd. He said Indonesia currently imports around 1 million bpd of crude oil and fuel to meet domestic demand.

Indonesia also plans to build additional oil storage with a capacity of 1 million barrels to ensure energy security, Bahlil said.

Indonesia has, in recent years, moved to increase the processing of its natural resources onshore.

REUTERS

Editor’s Choice: Indonesia to Offer Energy Projects Worth $40 Billion in 2025, Minister Says

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He said Indonesia currently imports around 1 million bpd of crude oil and fuel to meet domestic demand.\n\n\n\n\n\n\n\n\n\nIndonesia also plans to build additional oil storage with a capacity of 1 million barrels to ensure energy security, Bahlil said.Indonesia has, in recent years, moved to increase the processing of its natural resources onshore.REUTERSEditor’s Choice: Indonesia to Offer Energy Projects Worth $40 Billion in 2025, Minister SaysClick here to get the latest news updates from Tempo on Google News","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}