Reuters reports that Exxon Mobil is selling part of its stake in the West Qurna-1 oilfield to PetroChina and Indonesia's Pertamina. Oil Ministers Abdul Kareem Luaibi [Elaibi] told the news agency that 25 percent will go to PetroChina and 10 percent to Pertamina. He added that the deal would be done "maybe after two to […]
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 […]
By John Lee. Indonesia has signed a deal with Iraq's State Oil Marketing Organization (SOMO) to buy Basra light crude in the second half of 2013. According to reports from Reuters and Jakarta Globe, Iraq is winning more customers in Asia as it is selling its crude cheaper than comparable grades, undercutting rival Saudi Arabia […]
By John Lee. Indonesia's Coordinating Minister for the Economy, Hatta Rajasa (pictured), has said Pertamina is considering taking a stake of up to 20 percent in the West Qurna-I block, which is owned by Exxon Mobil. According to a report from Fox Business, Mr. Rajasa told reporters: "Exxon has got a new oil field in […]
By John Lee. Pertamina, Indonesia’s state-owned oil and gas company, has said it is considering expanding its upstream business in Iraq. The company's investment planning and risk-management director, Afdal Bahaudin, told The Jakarta Post that the second-largest oil producer in the country would keep on searching for producing onshore oil fields available to purchase in […]
Iraq's Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani (pictured), has invited Indonesian companies and investors to participate in the reconstruction of Iraq, according to a report from AIN. The DPM emphasised opportunities in the areas of petrochemical plants and fertilizers factories. During his speech to the Indonesian Parliament, he assured MPs that "Iraq is […]
Indonesia’s state-owned oil company Pertamina wants to buy stakes in at least two Iraqi oilfields, according to a report from Bloomberg. During meetings between Iraqi and Indonesian government officials in Jakarta, company President and CEO Karen Agustiawan (pictured) told reporters the company may acquire a 10 percent share in an area that produces 2.5 million barrels […]
