Pertamina warns gasoline imports to more than double in 2017

State oil and gas firm PT Pertamina expects Indonesia’s gasoline imports to more than double from existing levels by 2017 if the country does not build additional refineries, a company official said. The unnamed official warned that annual domestic gasoline consumption would climb to 192.7 million barrels in 2017, from a forecast of 123.8 million barrels in 2009. Oil industry experts say that Indonesia needs to show much greater political commitment to attracting foreign investment, providing financial guarantees as well as sweetening the terms for investors with tax incentives. Pertamina’s President Director Karen Agustiawan said in June that the company has plans to add new refinery capacity totalling 700,000 barrels per day, as part of efforts to curb costly oil products imports. (September 2, 2009)