Indonesia's Pertamina completes oil storage tank construction to support refinery upgrade

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Indonesia's state energy company Pertamina has completed construction of new oil storage tanks with a total capacity of 2 million barrels, aimed at boosting crude oil inventory at its upgraded Balikpapan refinery, its refinery unit said on Wednesday. The overhaul of the Balikpapan facility is nearly finished and operations are scheduled to begin in November, Pertamina Chief Executive Simon Aloysius Mantiri said."The existence of these tanks made crude oil inventory management more effective and efficient," Milla Suciyani, a spokesperson at Pertamina's refinery unit Kilang Pertamina Internasional said in a statement. The upgrade at the Balikpapan refinery will increase processing capacity to 360,000 barrels per day (bpd) from 260,000 bpd previously and improve fuel quality, the company said.The first crude oil filling at the new tanks, located at the Lawe-lawe terminal, is planned for early November 2025.

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