Sector News

Rosneft, Pertamina establish JV for refinery and petchem complex in Indonesia

November 28, 2017
Energy & Chemical Value Chain

Rosneft and Pertamina have established a joint venture (JV) to build a grassroots refinery and petrochemical complex at Tuban, East Java, Indonesia.

The JV company, PT Pertamina Rosneft Pengolahan dan Petrokimia Indonesia, was established in accordance with a JV agreement signed in October 2016, Rosneft says. Pertamina owns a 55% stake in the JV and Rosneft owns the remaining 45%.

The project includes a refinery designed to process 15 million metric tons/year (MMt/y) of medium and heavy sulfur crude oil grades. The targeted capacities of the petchem complex are more than 1 MMt/y of ethylene and 1.3 MMt/y of aromatics, adds Rosneft.

Rosneft says that the JV will assist the company to expand its footprint in Indonesia’s energy market. The refinery will produce motor fuels for the growing local market that currently imports the bulk of its refined products. Indonesia also has a big deficit of petrochemical products and polymers such as polyethylene and polypropylene, according to Rosneft.

By Kartik Kohli

Source: Chemical Week

comments closed

Related News

July 14, 2024

Europe ethylene spot prices turn firmer on demand, feedstock, looming cracker turnarounds

Energy & Chemical Value Chain

European ethylene spot prices have firmed week on week on the back of better-than-expected demand amid higher feedstock values and an increasing focus on upcoming planned cracker maintenance outages. Spot deals this week have been reported at discounts of 32-35% on the pipeline, prior deals had been at discounts of around 38-39%.

July 14, 2024

Marcel Imwinkelried appointed new Siegfried CEO

Energy & Chemical Value Chain

He will succeed Reto Suter, who has led the Siegfried Group as CEO ad interim since the departure of Wolfgang Wienand on May 1, 2024. Suter will now focus on his role as Chief Financial Officer for Siegfried. Wienand will become CEO of Swiss competitor Lonza.

July 14, 2024

Honeywell acquires Air Products’ LNG technology, business for $1.8B

Energy & Chemical Value Chain

Honeywell Inc. (Charlotte, North Carolina) has reached agreement to acquire Air Products’ (Leigh Valley, Pennsylvania) liquefied natural gas process technology and equipment business for $1.81 billion. The deal is expected to close before the end of the year. The price represents a multiple of 13 times the unit’s estimated 2024 EBITDA.

How can we help you?

We're easy to reach