Indonesia's PT Pertamina Plans $7 Billion in Refinery Upgrades

MANILA, PHILIPPINES--October 9, 2013--Researched by Industrial Info Resources (Sugar Land, Texas)--PT Pertamina (PERT:IJ) (Jakarta, Indonesia) is studying a $7 billion development master plan to increase crude feedstock flexibility for five of its refineries in Indonesia. Set to be completed by 2018, the planned modifications will allow the processing of lower-cost sour crude and improve profit margins at the refineries. In August, Pertamina signed a contract with UOP Processes International Incorporated (Jakarta, Indonesia), a subsidiary of Honeywell International (NYSE:HON), to perform a bankable feasibility study for the refinery development master plan.