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The global oil crisis of the 1970s greatly increased oil prices and thus Pertamina's profits. The company initially provided a fiscal lift to the hopes of Indonesia's development planners. For President Suharto and other members of the ruling elite, revenue from Pertamina was "an ongoing source of funding" without accountability. "They ran this ...
Premier and Kufpec unwound the PKP joint venture in July 2007. [7] Petronas, the Malaysian oil company, decided to invest significant cash in the Company in 1999 buying a 25% stake. [8] A restructuring took place in 2002 which saw Petronas and Amerada Hess each give up their 25% holdings in Premier Oil in return for taking various Premier ...
To save costs, the joint development of East Natuna, Tuna block (Premier Oil 65%, Mitsui Oil Exploration 35%), and South Natuna Sea Block B (ConocoPhillips 40%, Inpex 35%, Chevron Corporation 25%) has been proposed. Production is expected to be viable only if the oil price exceeds $100 per barrel. The production is expected to start not before ...
The 2018 Balikpapan oil spill was an oil spill off the coast from the city of Balikpapan, Indonesia. It was caused by a cracked pipeline linked to a Pertamina refinery in the city. A blaze that occurred when the oil spill caught on fire had killed five residents who were in the bay, in addition to causing respiratory problems in the city.
BPM moved into this building in Jakarta in 1938. The building is now the headquarter of Pertamina.. The BPM was established in 1907. [1] [2] It was Shell's main oil producing entity in Indonesia (at that time, Dutch East Indies) and dominated the Indonesian oil industry during the colonial era, making it one of the largest companies in the colonial economy.
Location of Indonesia. Indonesia is a unitary sovereign state and transcontinental country located mainly in Southeast Asia with some territories in Oceania. Indonesia's economy is the world's 16th largest by nominal GDP and the 8th largest by GDP at PPP, the largest in Southeast Asia, and is considered an emerging market and newly industrialised country.
Aceh is located on the northern tip of the Indonesian island of Sumatra.The region is rich in natural resources, including oil and natural gas. In 1992, it was reported that Aceh provided 15% of Indonesia's total exports, and the value of the oil and gas fields was estimated in 2003 to generate US$1.2-1.5 billion annually.
Pertamina's oil storage depot at Plumpang is often considered the most important fuel depot in Indonesia, having been established in 1974 and having a capacity of nearly 300 million liters of fuel. By itself, the depot handles around 20 percent of the country's fuel supply, primarily serving the Greater Jakarta area.