Pertamina assigned to develop Tuban refinery

The government will appoint state-owned oil and gas firm PT Pertamina to develop an oil refinery in Tuban, East Java, as part of efforts to reduce fuel import, Kontan reported Tuesday.

The paper quoted Montty Girianna, a deputy at the Office of the Coordinating Minister for the Economy, said that the government is currently drafting a presidential regulation as legal umbrella for domestic refinery project including planned incentives.

Pertamina Vice President for Corporate Communications Wianda Pusponegoro said the company is ready to develop the project, but is waiting for the presidential regulation.

Kontan said that the presidential regulation is expected to be issued before the end of this year. (*)