Pertamina to process crude oil at Petronas refineries

Pertamina is also looking at increasing its stake in Malaysia’s oil and gas fields. (Facebook pic)

JAKARTA: Indonesia’s oil and natural gas corporation Pertamina said today it plans to process its share of Malaysian and Iraqi crude oil production at Petronas’ refineries in return for gasoline (petrol) as Indonesia strives to reduce oil imports.

“We’re approaching Petronas on whether we can utilise its refineries to process our crude produced from Malaysia’s fields,” Heru Setiawan, director of investment planning and risk management at Pertamina, told reporters.

“We can also bring our crude from Iraq fields to the Petronas refineries,” he said.

Earlier this week, the two companies agreed to a crude swap deal.

Separately, Dharmawan Samsu, Pertamina’s upstream director, said the company is also looking at increasing its stake in Malaysia’s oil and gas fields.

The companies are also exploring further cooperation in the oil and gas exploration sector in the Middle East and Africa.

Both companies have assets in countries such as Gabon and Iraq, the officials said.