Iran has proposed to build an oil refinery in Java, Indonesia with a processing capacity of more than 100,000 barrels per day, News portal Fuels and Lubes quoted IGN Wiratmaja Puja, director-general of oil and gas at Indonesia’s Ministry of Energy and Mineral Resources.
Local media citing Hassan Khosrojerdi, head of the joint Iran-Indonesia refinery’s board of directors, say the project is estimated at $8.4 billion.
Iran, which is seeking to boost crude oil exports, can supply crude oil to the proposed refinery. The is now conducting a project feasibility study, a spokesman for Iran’s oil ministry said.
Indonesia is building four refineries, ranging in capacity between 300,000 and 350,000 bpd each.
MR/IRN84119218/PR
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