Govt offers investors to develop oil refineries

The government is offering local and foreign investors to develop two local oil refineries with a combined capacity of 125,000 barrel per day, according to director general of oil and gas Rachmat Soedibyo.

He was quoted by the Tempo daily as saying that the two oil refineries would help ensure the supply of fuel at home.

He said that the government expected that the enactment of the new oil and gas law in November last year would help boost foreign interest in developing oil refineries here.

The government had offered the projects a couple of months ago, but so far no investors had made any commitment.(*)