While western oil companies have been retreating from the Asia-Pacific refining industry, national oil companies (NOCs) from major producing nations remain eager to invest in the region's downstream capacity so that they can lock in demand for their crude. Two freshly announced deals have underlined their interest: Saudi Aramco and Pertamina have just awarded an engineering design contract for the expansion and upgrading of the existing Cilacap refinery in Indonesia, while Russia's Rosneft has also signed a framework agreement with Pertamina to build a new 300,000 barrel per day refinery in Indonesia.
展开▼
