President Widodo: Oil refinery development may cut imported fuel value

Faizah Kamal 17-Dec-2019

Indonesian president Joko Widodo (Jokowi) explained that if the development of oil refineries in Indonesia is complete soon, the value of imported fuel and petrochemical products could decrease.

“Until this moment, of the five (5) that we want to work on, none of them are working. But I am waiting for this to be completed,” President Widodo said, while opening the National Development Planning Conference (Musrenbangnas) in Jakarta on December 16.

He stated that oil refineries could develop the country’s petrochemical industry.

As of now, the import of petrochemical products is Rp323 trillion while oil imports have touched 700 thousand to 800 thousand barrels per day.