World

Saudi Aramco withdraws from oil refinery project in Indonesia

Saudi Arabian Oil Co., (Aramco) quit from Cilacap oil refinery project owned by Indonesia's energy firm PT Pertamina after a long discussion, said Pertamina Director Ignatius Tallulembang.
Saudi Aramco withdraws from oil refinery project in Indonesia ảnh 1Saudi Aramco quit from Cilacap oil refinery project owned by energy firm PT Pertamina after a long discussion. (Photo by the company)

Jakarta (VNA) - Saudi Arabian Oil Co., (Aramco)quit from Cilacap oil refinery project owned by Indonesia's energy firm PT Pertamina aftera long discussion, said Pertamina Director Ignatius Tallulembang.

Initially, both producers aims to settle the deal thisyear, but one of the largest global oil producers Aramco decided to pull out fromthe project, he said.

The cooperation ended in April 2020 after being extendedat the end of December 2019, he said, adding that Pertamina is finding newbusiness partners while preparing for the next development process.
 
With total investment of 5 billion USD, the project isexpected to draw about 130,000 workers during the construction process, and10,000 others while operating./.

VNA
# Saudi Arabian Oil Co. #(Aramco) #Cilacap oil refinery project #Indonesia's energy firm PT Pertamina #Vietnamplus #Vietnam News Agency Indonesia
Follow VietnamPlus

Related News

Indonesia’s economic growth projected at 1 percent in Q2

Indonesia’s economic growth projected at 1 percent in Q2

Indonesia's economic growth in the second quarter of 2020 is expected to be much lower than that of the first quarter, only about 1 percent due to the large-scale social restrictions (PSBB) imposed nationwide, said Finance Minister Sri Mulyani at an online press conference on June 3.
Indonesia disburses 3.7 billion USD to support 12 SOEs

Indonesia disburses 3.7 billion USD to support 12 SOEs

The Indonesian government has decided to spend 52.5 trillion Rp (about 3.7 billion USD) to help 12 state-owned enterprises (SOEs) resume their post-pandemic operations, towards reviving the national economy, said Finance Minister Sri Mulyani on June 3.
Indonesia raises budget deficit to 6.34 percent of GDP

Indonesia raises budget deficit to 6.34 percent of GDP

The Indonesian Government widened the state budget deficit to 6.34 percent of the gross domestic product (GDP), or 1,039.2 trillion IDR (73.28 billion USD), in the revised state budget 2020, from earlier 5.07 percent, or 852.9 trillion IDR.
Indonesia’s real estate revenue down 70 percent

Indonesia’s real estate revenue down 70 percent

Secretary General of the Association of Housing Development of Indonesia (Peurmahan) Daniel Djumali has announced that revenue in the country’s real estate market this year has slumped by 70 percent year-on-year due to the COVID-19 pandemic.

See more

Indonesian Foreign Minister Sugiono (third, left) and his New Zealand counterpart Winston Peters (third, right) co-chair the 12th meeting of the Indonesia-New Zealand Joint Ministerial Commission (JMC) in Jakarta, on June 13. (Photo: ANTARA)

Indonesia, New Zealand promote cooperation on strategic areas

The cooperation between Indonesia and New Zealand covers several fields, including economy, trade, investment, and education. In the economic sector, the ministers agreed to encourage more balanced and sustainable trade to achieve the bilateral trade target of 6 billion NZD (3.62 billion USD) by 2029.

Cambodian workers collect salt from the fields ready to store it in warehouses in Kampot province. (Photo: Phnom Penh Post)

Adverse weather drives fall in Cambodia’s salt production

March to April is the full time for salt harvesting, but in March, there was a sudden rain in a day that disrupted the production for a week and 10 days, he said, adding that in April, it rained continuously, so the association decided to finish the harvest by the end of April.

Through the ASEAN Economic Community Strategic Plan, ASEAN member countries aim to significantly enhance intra-regional trade by building greater resilience to external shocks and promoting the connectivity of the common market for goods, services and investment. (Photo: VNA)

ASEAN poised for greater role in global economy

ASEAN is a peaceful region, which makes it a conducive location for foreign direct investment and business ventures that can come from across the globe, said the chief economist of Bank Muamalat Malaysia Berhad.

Indonesian Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono atUNOC-3 at Port Lympia, Nice, France. (Photo: ANTARA)

Indonesia reaffirms sustainable ocean management commitment at UNOC-3

Indonesia implements blue economy concrete actions, such as expanding marine conservation areas to cover 30% by 2045, implementing responsible quota-based fisheries, promoting sustainable aquaculture, monitoring coastal ecosystems, and involving communities in reducing plastic waste in seas.

Cargo at Long Beach Port, California, the US. (Photo: Xinhua/VNA)

ASEAN accelerates trade talks with US ahead of tariff suspension deadline

According to the earlier US tariff announcement, Cambodia encounters the highest rates of 49%, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), and Indonesia (32%). Meanwhile, Malaysia, Brunei, the Philippines, and Singapore face lower rates ranging from 10% to 24%.

At the panel discussion (Photo: VNA)

Indonesia seeks urban infrastructure to combat flooding

Indonesia, with over 17,000 islands, is among the countries most vulnerable to rising sea levels, storms, flooding and seismic activity. Jakarta, in particular, is experiencing severe land subsidence — with some areas sinking by as much as 25 centimetres per year — which, coupled with tidal surges, has led to increasingly frequent and severe flooding.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (Photo: Bernama)

Malaysia to hold second round of trade talks with US

Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.