Pertamina drops plan to acquire refinery overseas

By Godang Sitompul

State owned oil and gas firm PT Pertamina has dropped plan to acquire refineries overseas, according to a senior official of the firm.

Pertamina?s Processing Director Rahmat Hartadi admitted that the firm once planned to acquire a refinery somewhere in Southeast Asia, but the plan was dropped because it does not fit the firm?s ?objectivity?.

?There isn?t any deal that has been done,? he said.

Pertamina is seeking to expand its refinery assets in order to reduce the imports of oil fuel. It plans to upgrade the capacity of its refineries and build several refineries in partnership with private sector.

Editing by Johannes Simbolon