Saudi Aramco’s plans to build a 300,000 b/d refinery and petrochemical complex at Tuban in Indonesia’s East Java province have been rejected by the Indonesian Oil Ministry. Saudi Aramco had requested tax incentives for the Tuban refinery, which was set to be configured partly to run on Saudi crude.
This follows the rejection of a request for similar tax breaks made by state-owned Kuwait Petroleum Corporation (KPC) overseas downstream subsidiary, Kuwait Petroleum International (KPI). KPI signed a memorandum of understanding (MOU) with Indonesia’s Pertamina in 2011 for a 200,000-300,000 b/d refinery and petrochemicals complex in West Java. (CONTINUED - 771 WORDS)
