Report: Russia’s Rosneft, Pertamina sign deal on oil refinery

MOSCOW, May 26 (PRIME) -- Russian oil major Rosneft and Indonesia’s Pertamina have signed a framework agreement to cooperate in construction of an oil refinery in the town of Tuban, Bloomberg reported Thursday citing a statement by Pertamina.

Construction of the facility is projected to be completed by the end of 2021. Rosneft will supply oil to the refinery at a competitive price.

Wiratmaja Puja, head of the oil and gas production department at Indonesia’s Ministry of Energy and Mineral Resources, said earlier the companies may jointly invest U.S. $8 billion in construction of the refinery, or $13 billion if a decision on construction of petrochemical facilities is made.

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