Indonesian MP calls for Iranian oil investment

EghtesadOnline: A member of the Indonesian Parliament said on Wednesday that in order for the country to increase its oil imports from Iran, it needs new refining equipment.

News ID: ۷۷۶۱۰۲

10 May 2017

Satya W. Yudha, Indonesia’s parliament Vice Chairman of Energy, Mineral Resources, Research, Technology and Environmental Affairs said that the crude oil imported from Iran usually contains a lot of sulfur and to use it Indonesia needs to develop its refining infrastructure.

Yudha called for Iranian investment in the countries oil refining sector, according to IRNA.

He said that since Cilacap Refinery in Central Java can only allocate 10 percent of its capacity, i.e. 30,000 barrels, to Iranian oil, Indonesia first needs to attract more investment by the Islamic Republic to develop its refineries.

An Iranian oil cargo, amounting one million barrels, reached Java in mid-February to be tested in Cilacap Refinery, he said.

On the other hand, based on an announcement by the state-owned Pertamina Company, it is planning to increase oil purchase from Iran and to do so, they are evaluating Iranian oil.