TOKYO -- Indonesian national oil company Pertamina's ambitious diversification plans are meeting major challenges in sanctions affecting its Russian partner Rosneft and difficulties in incentivizing carbon capture efforts, a senior company executive told Nikkei Asia.
Pertamina's $24 billion plan to develop a new refinery complex in the East Java town of Tuban with Rosneft, initiated in 2016, includes seven units to produce petrochemicals. It was supposed to enter a final investment decision phase this year, a senior Indonesian energy ministry official said in October, and was expected to play a major role in Pertamina's push away from the fossil fuel business.
