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Economy

Indonesia's Pertamina, Aramco OK $5bn refinery expansion

State-owned oil companies' joint venture aims to meet growing domestic demand

Saudi Aramco President and CEO Amin Nasser, left, and Pertamina President and CEO Dwi Soetjipto attend a signing ceremony in Jakarta on Thursday.

JAKARTA -- Indonesia's state-owned oil company Pertamina and Saudi Aramco on Thursday finalized an agreement on a $5 billion expansion of Indonesia's largest oil refinery in Central Java.

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