Storage tanks at a Pertamina refinery
Pertamina targets refinery upgrade by end-2024
Indonesian NOC on track to complete Balikpapan expansion on schedule
Work to increase the capacity of Indonesia’s Balikpapan refinery from 260,000bl/d to 360,000bl/d are now more than 40pc complete, says NOC Pertamina The development will also raise the refinery’s Nelson Complexity Index rating to 8.8 from 4.4, meaning it will be able to produce more complex products, including those that meet Euro 5 quality standards. The expansion project “is one of the pillars of [Indonesian] energy independence”, says Pertamina. The upgraded refinery will have a greater “flexibility in processing economical crude oil available in the market”, the NOC adds. Pertamina has also committed to a relatively modest goal of 17pc “new and renewable” generation capacity by 2030, up
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
