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Indian Oil eyes stake in Indonesia's Tuban Petrochemical
http://www.gasandoil.com/GOC/company/cns64794.htm 2006/10/31

State-owned Indian Oil Corporation (IOC) is eyeing equity participation in Indonesian petrochemical firm Tuban Petrochemical Industries, which owns a giant $ 3 bn petrochemical complex. A detailed proposal will be put up for approval in the next board meeting of the company, senior IOC officials said.
The company already has a memorandum of collaboration with the leading Indonesian oil and gas firm
Medco Energi International for jointly acquiring exploration and production assets in India, Indonesia and third countries.

インドネシアでも有数の民間石油会社PT Medco Energy International
創立者は,国民議会における闘争民主党会派(FPDIP)の代表 Arifin Panigoro

MedcoEnergi is proud to be the first Indonesian company operating in the oil and gas exploration and production business listed in the Jakarta Stock Exchange since 1994.
It was back in 1992, when MedcoEnergi entered into the business, through the acquisition of a relatively small oil field in East Kalimantan area, from Tesoro, a US based oil company, producing 5,000 barrels of oil per day, which subsequently yielded significant gas reserves supplied to nearby power and methanol plants.
Currently, MedcoEnergi has transformed into an integrated energy company with business involvement in oil and gas exploration and production, drilling services, methanol production and most recently, power generation.

Company officials disclosed that Medco is planning to set up a green field refinery project in Indonesia and IOC has shown its initial interest to evaluate the opportunity. Around 70 % of Tuban Petrochemical is owned by the government of Indonesia. The other shareholders of the Tuban complex are Pertamina, Itochu, Tuban Petrochemicals (a subsidiary of Thailand's largest conglomerate Siam Cement), and Sojitz (formerly Nissho Iwai).
"Indonesia imports significant quantitiesof aromatic products like benzene, toluene, xylene and polypropylene. IOC is presently fast expanding its presence in petrochemicals industry and the proposal jives well with IOC's globalisation plan," a senior official said.

The Tuban petrochemical plant has a combined capacity of 3.6 mm tpy of petrochemicals products, comprising 1 mm tpy of aromatics (500,000 ton paraxylene, 200,000 ton benzene, and 150,000 ton toluene), 1 mm tpy of naphtha, and 1.6 mm tpy of kerosene and diesel.

Indonesia is the largest petroleum market in the ASEAN region, currently estimated at 50 mm tpy of petroleum products. To pursue upcoming opportunities in the Indonesian petroleum retail sector, IOC already has in place its board approval for setting up a wholly owned subsidiary in Indonesia.


2007/1/14 

Indian Oil puts retail plans in Indonesia on hold
http://www.thehindubusinessline.com/2007/01/15/stories/2007011504080100.htm

Indian Oil Corporation Ltd has put on hold its plans to foray into the petroleum retailing industry of Indonesia.

A senior company official said, "After evaluating the business prospects in that country we have decided to put on hold our plans to foray into Indonesia's retail sector till there is more clarity on de-regulation plans there."

However, the company is likely to continue with its lubricant distribution business in Indonesia, he stated. IndianOil was looking at launching its retail outlets in Indonesia by floating a fully owned subsidiary. If the plans had materialised this would have been IndianOil's third retailing venture abroad. IndianOil entered the Sri Lankan market in 2002 through Lanka IOC Ltd. The Indian petroleum marketing major also has a presence in Mauritius through its subsidiary IndianOil Mauritius Ltd.

Opportunities
Currently, Indonesia the leading petroleum market in the ASEAN region is estimated to have 50 million tonne per annum of petroleum products. For tapping the opportunities in Indonesian petroleum retailing industry, IndianOil had also taken its board's approval to set up a fully owned subsidiary. Besides auto fuels, the Indonesian venture was to retail lubricants.

As regards foray into E&Pexploration and production activity, the company is looking for good opportunities to emerge in Indonesia. The company has been eyeing a stake in the petrochemical company PT Tuban Petrochem (Tuban Petro) but nothing has yet been finalised, sources added.

The Indonesian Government owns 70 per cent stake in the petrochemical company.

The other shareholders in Tuban include big names such as Pertamina, Tuban Petrochemicals Pte Ltd (which is Siam Cement PCL's, largest conglomerate of Thailand, subsidiary), Sojitz Corporation (earlier known as Nissho Iwai Corp), and Itochu Corporation. Aromatic products such as Toulene, Benzene, Poly-propylene and Xylene are imported in significant quantities in Indonesia.


United States : McDermott Awarded Two Polypropylene Technology Contracts in India  
Dec 22, 2018 (Euclid Infotech Ltd via COMTEX) --

McDermott International, Inc. announced that it has been awarded two sizeable technology contracts by Indian Oil Corporation Ltd. (IOCL) for the license and basic engineering design of a 200 KTA polypropylene plant in Barauni, India, as well as a 420 KTA polypropylene plant in Gujarat, India. Indian Oil Corporation is the leading refiner and a major petrochemical player in India. Both plants will use Lummus' proprietary NOVOLEN process reactors and proprietary NHP catalyst to produce a wide range of leading polypropylene products for the Indian and regional markets.

"Lummus' Novolen Technology offers the most competitive technology for the manufacturing of polypropylene, and continues to provide innovations in process and products," said Daniel M. McCarthy, Executive Vice President of McDermott's Lummus Technology business. "By licensing this technology to enhance the profitability of both the Barauni Refinery and the Gujarat Refinery, IOCL will be able to produce a variety of polypropylene products to meet India's increasing demand for plastics."

McDermott's Lummus Technology is a leading licensor of proprietary petrochemicals, refining, gasification and gas processing technologies, and a supplier of proprietary catalysts and related engineering. With a heritage spanning more than 100 years, encompassing approximately 3,100 patents and patent applications, Lummus Technology provides one of the industry's most diversified technology portfolios to the hydrocarbon processing sector.