"Indonesia’s downstream oil and gas regulator BPH Migas says the country needs at least three oil refineries in order to bolster the nation’s fuel stockpile and ease pressure on the national budget."
"BPH Migas has called on all stakeholders in the oil and gas sector to generate ideas to enable the construction of the three proposed refineries."
"Indonesia’s current fuel inventory is enough for between 21 and 23 days of consumption, Saryono said, compared to the United States, which has stockpile for 90 days, Japan for up to 200 days and European countries averaging 90 days."
"Large foreign oil and gas companies such as Saudi Aramco and Kuwait Petroleum Corporation, have expressed interest to build refineries in Indonesia, citing investment need of $8 billion. They are planning to cooperate with Pertamina."
QPN Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
