Private Developer Plots Indonesian Refineries

摘要

Privately held Kreasindo Resources Indonesia is looking to succeed where state-run Pertamina has failed as it works to bring in suppliers and investors for two independent refining projects in the Southeast Asian country. The initiative typifies the shrewdness of smaller players operating in an environment dominated by a national oil company (NOC) in that Kreasindo has detected opportunities in local markets away from regional refining hubs. But whether its plants make it to the finish line remains to be seen, especially in light of a growing surplus in refining capacity globally, industry experts say.