Indonesia's Pertamina looks to India to process Iraqi crude | Reuters

JAKARTA Indonesian state-owned energy company Pertamina hopes to seal a deal this year with an Indian refiner to process around 1 million barrels of Iraqi crude oil each month, its chief executive said.

"It is better if we purchase the crude and then utilize a refinery overseas," Pertamina CEO Dwi Soetjipto told reporters late on Monday.

"Why India? Because its geographic location is good," he said. Any crude shipments from Iraq would pass several Indian oil ports on the way to Indonesia.

Soetjipto declined to say which Indian refiner Pertamina was talking to on the oil processing deal.

Pertamina's monthly Iraqi oil shipments to the Indian refiner would consist of 290,000 barrels from a stake in the West Qurna block and another 700,000 barrels it would purchase from other Iraqi oilfields, he said.

Pertamina has about 1 million barrels per day (bpd) of domestic refining capacity, which meets only about two-thirds of Indonesia's daily oil consumption.

(Reporting by Wilda Asmarini; Writing by Randy Fabi; Editing by Tom Hogue)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Mar 15, 2016 11:02 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See