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Pertamina to develop Cilacap refinery without Aramco

June 01/2020

MOSCOW (MRC) -- PT Pertamina will develop its Cilacap refinery in Central Java independently, the state energy company said, dropping a plan to boost capacity through a joint venture with Saudi Aramco, said Reuters.

The two companies have been in talks to upgrade the Cilacap refinery since 2016 and last year said that they would finalise a joint venture plan in the first quarter of 2020.

"Pertamina will continue to independently develop the Cilacap Refinery Development Master Plan, while we look for another strategic partner, Pertamina spokesman, Fajriyah Usman, said in a statement. Usman confirmed that the planned joint venture with the Saudi oil giant had now been axed.

Saudi Arabian Oil Co. did not immediately respond to a request for comment. The Cilacap Refinery Development Master Plan aims to increase Cilacaps refining capacity to 400,000 barrels per day from 348,000 bpd.

Pertamina had said last year that it will start the development of the Cilacap project with or without a partner to meet an operational target of 2025.

As MRC informed earlier, Pertamina carried out planned maintenances at the liquid catalytic cracking unit in Balongan (Balongan, West Java, Indonesia). Repair work on this installation with a capacity of 180,000 tonnes/year of propylene started on 19 March of this year and ended on 19 April.

Propylene is a feedstock for producing of  PP.

According to MRC's ScanPlast report, PP shipments to the Russian market were 192,760 tonnes in January-February 2020, down by 6% year on year. Homopolymer PP accounted for the main decrease in imports.

Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established 1957). Pertamina is the world's largest producer and exporter of liquefied natural gas (LNG).


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, PP, propylene, petrochemistry, Pertamina.
Category:General News
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