Firm pledges, guaranteed funding and incentives are needed to dispel investor scepticism over Jakarta’s latest attempt to expand Indonesia’s refining sector. No new refinery has been built in the country since the 125,000 b/d Balongan plant in 1994. There have been plenty of proposed expansions or new facilities in the past 20 years, but the only constant is the lack of progress. Consequently, doubts surround the latest plans to lift refining capacity by more than 60pc to 1.68mn b/d by 2025, at a probable cost of around $25bn (WPA, 12 December, p10).
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