Iraq may Invest in Indonesian Oil Refineries

The Jakarta Post reports that Indonesia is likely to partner with Iraq to build oil refineries in Indonesia.

The director general for oil and gas at Indonesia’s Energy and Mineral Resources Ministry, Edy Hermantoro, is quoted as saying:

Both deputy energy ministers from the two countries have signed a memorandum of understanding [MoU] for cooperation in upstream and downstream sectors …

“The door is open for both national oil and gas companies [Pertamina and the Iraq National Oil Company (INOC)] to form a business-to-business partnership.

In March this year, Deputy Energy and Mineral Resources Minister Susilo Siswoutomo joined a delegation led by the Coordinating Economic Minister Hatta Rajasa to visit Baghdad, the Post said.

Edy told the Post that both Susilo and Iraqi deputy oil minister Fayadh Hassan Nima had signed the energy cooperation’s agreements during the March visit.

(Source: Saudi Gazette, Jakarta Post)

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