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View all search resultsRussian Ambassador to Indonesia Sergei Gennadievich Tolchenov reasserted the country's readiness to advance energy cooperation with Indonesia, including through investments in and trade of oil and gas as well as assisting in building nuclear power plants.
The move to redirect some crude oil initially allocated for export may increase the oil and gas trade deficit, experts warn, urging the government to diversify the downstream oil and gas industry in order to offset potential revenue losses from reduced exports.
The expansion of the Balikpapan oil refinery in East Kalimantan belonging to state-owned oil and gas holding company Pertamina has suffered a massive 30 percent cost overrun and a further delay to its completion. The Balikpapan refinery expansion is one of the few progressing refinery expansion and development projects mandated by President Joko “Jokowi” Widodo to reduce dependency on fuel imports, and yet it has suffered delays.
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