PTT subsidiaries in Jakarta to expand sales of oil, plastic pellets in Indonesia

18-Jan-13

PTT recently established two subsidiaries in Jakarta to expand sales of crude and refined oil as well as plastic pellets in Indonesia. As per The Nation, PTT is also in talks with Indonesia's state-run Pertamina Oil Co on investment in a petrochemical-refinery project, which the Thai energy giant expects to conclude in April or May. PTT Exploration & Production (PTTEP) is exploring for crude oil in five or six blocks in Indonesia and operates a large coal-mining project and palm-oil business there, not to mention projects planned for the near future. PTT Global Chemical Co (PTTGC) has agreed to conduct a feasibility study on expanding a fully integrated petrochemical complex with Pertamina. Indonesia still offers growth opportunities; while its oil-refining capacity is 1 million bpd, on par with Thailand, it serves a much larger population of 250 million. In Vietnam, PTT is conducting feasibility studies for oil-refinery and petrochemical complexes and is awaiting word of support from the government there.