TPPI Shuts petrochemical plant in Tuba as agreement ends with Indonesia's Pertamina

13-Jun-14
PT Trans Pacific Petrochemical Indotama has stopped production at its Tuban plant in East Java after an agreement with Indonesia’s state oil company ended, as per Bloomberg. TPPI can process 100,000 bpd a day at its Tuban unit in East Java, which turns condensate into products including naphtha. The plant can produce 500,000 tpa paraxylene, 120,000 tpa orthoxylene and 200,000 tpa benzene. The subsidiary of Tuban Petrochemical Industries is negotiating with PT Pertamina, overseas suppliers and the country’s upstream oil and gas regulator for condensate feedstock to restart the plant in July or August. TPPI is looking to buy at least 1 million barrels a month of condensate to restart the plant. The company is exploring options to start operating independently, by looking for financing and feedstock suppliers as well as to sell output. TPPI restarted the plant in November after a nearly two-year suspension under the deal with Pertamina that ended May 21. TPPI bought all of its condensate from Pertamina in exchange for selling its output to the state-owned company.
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