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Indonesian and Malaysian state oil groups ally beyond region

Pertamina and Petronas sign broad cooperation agreement

A Pertamina worker prepares to label barrels of lubricant oil at a production facility in Cilacap, Indonesia.   © Reuters

JAKARTA -- Indonesian state-owned oil and gas group Pertamina will increase cooperation with Malaysian counterpart Petroliam Nasional, or Petronas, in an agreement signed on Tuesday that ranges from exploration to renewable power.

The comprehensive deal comes as demand for oil and gas is expected to remain high in Southeast Asia.

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