Iran And Indonesia Studying Joint Refinery, Sign Upstream Deal

Iran is studying the feasibility of jointly building an oil refinery in Indonesia with state petroleum firm Pertamina, according to Wiratmaja Puja, director-general for oil and gas at Indonesia’s Ministry of Energy. Mr Puja told reporters this week that Iran has proposed building a 100,000 b/d refinery on the island of Java. Indonesia is seeking outside investment in upgrading and expanding five existing refineries and is also considering grassroots refinery developments.

Any overseas refinery development by Iran would likely involve the supply of Iranian crude oil to the project. Saudi Arabia has concluded such a refinery project deal with Indonesia recently. (CONTINUED - 226 WORDS)