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2016-07-05 18:00:00

PERTAMINA SEEK PARTNERS

PERTAMINA SEEK PARTNERS

According to PLATTS, Indonesia's state-owned oil and gas company Pertamina will seek partners to build a strategic petroleum reserve of about 25 million barrels to ensure energy security, a senior official said Tuesday.

"The third party will provide the crude. We plan to select partners after Eid al-Fitr," Pertamina's processing director Rahmad Hardadi said.

About 60% of the crude for the SPR storage was expected to come from domestic production and the rest from other sources, he added.

The SPR storage facility was expected to be built in 1 1/2 to two years, Hardadi said.

The company also plans to build storage capacity for 7.3 million kiloliters of oil products by 2020 from 4.8 million kl currently, S&P Global Platts reported earlier.

President Joko Widodo has committed to build upstream and downstream infrastructure, such as new refineries, pumping stations and storage tanks in a bid to cut Indonesia's dependency on imported fuels.

The government also plans to provide incentives to private companies to participate in building the infrastructure.

Indonesia is already in talks with Oman, Kuwait, Iran and Saudi Arabia to lease storage tanks to hold buffer stocks of crude and oil products equivalent to 30 days of consumption.

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Earlier: 

INDONESIA & BP: 10,000 JOBS 

INDONESIA HAS CLAIMS 

WBG WANTS INDONESIA 

INDONESIA'S OIL DOWN 

INDONESIA SEEKS TO IRAN

 

 

 

Tags: PERTAMINA, INDONESIA, OIL,

Chronicle:

PERTAMINA SEEK PARTNERS
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

PERTAMINA SEEK PARTNERS
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

PERTAMINA SEEK PARTNERS
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

PERTAMINA SEEK PARTNERS
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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