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flag Indonesia opens $7.4B refinery upgrade, boosting capacity to 360,000 bpd and cutting fuel imports.

flag Indonesia has inaugurated a $7.4 billion upgrade to its Balikpapan refinery, boosting capacity to 360,000 barrels per day—the largest in the country. flag The expansion, completed in 2026, enhances production of gasoline, gasoil, and LPG, potentially eliminating imports of jet fuel by 2027 and reducing gasoline and gasoil imports significantly. flag The refinery now produces 5.8 million kilolitres of gasoline annually and increases LPG output to 384,000 metric tons, cutting LPG imports by 4.9%. flag A new petrochemical unit adds 283,000 tons of annual output. flag President Prabowo Subianto announced a new wave of downstream projects worth $6 billion, aiming to boost industrialization, attract foreign investment, and strengthen energy security through domestic processing.

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