Rosneft, Indonesia's Pertamina studying prospects for cooperation
MOSCOW. June 20 (Interfax) - OJSC Rosneft and Indonesia's Pertamina signed a memorandum of mutual understanding during the St. Petersburg International Economic Forum, the Russian company said on its website on Friday.
"The document provides for a joint study of potential areas of cooperation between the two companies, particularly in hydrocarbons upstream in Russia and Indonesia, marketing and logistics (storage, oil and oil products blending), as well as oil refining in Indonesia," the statement said.
"In addition, the parties agreed to review the possibilities of partnership in the area of oil and oil, oil products, petrochemicals, LPG and LNG supplies to Indonesia," Rosneft said.
Pertamina is a monopoly on the oil refining market of Indonesia. The company owns nine oil refineries with a total capacity of 57 million tonnes per year. Pertamina is a leader on Indonesia's retail market with a market share of more than 95% and it owns more than 5,100 filling stations.