Indonesia eyes Iran’s help in upping fuel reserve   

News ID: 3564393 -
TEHRAN, Feb. 23 (MNA) – Indonesia hopes to increase its fuel reserve of 21 days’ worth to 30 days with the investment and help offered by Iran’s oil industry.   

The Indonesian government, which has a 21 days' worth of fuel and oil emergency reserve, expects to increase its fuel inventory to a period of 30 days with the help of Iranian investors and oil companies, reported Iran’s official news agency IRNA on Tuesday.

Not only the 21 days’ reserve is under the safe level, but also it is not distributed evenly across the country, Indonesia oil ministry’s Oil and Gas Director Wiratmaja Puja is quoted as saying by the local media of the Southeastern Asian country.

Indonesian websites have quoted the official as saying that Iranian oil investors are currently negotiating with Indonesians over constructing a refinery which will lead to a better reserve of fuel in future.

According to international standards, the 250-million-populated country needs a reserve of 90 days’ worth while Singapore has a reserve of 60 days.

 

YNG/IRN81975819

 

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