January 31, 2019 / 5:59 AM / 15 days ago

Indonesia's Pertamina, Eni sign agreement for green fuel refinery

JAKARTA, Jan 31 (Reuters) -

* Indonesian state energy company PT Pertamina said on Thursday it has signed agreements with Italian oil company Eni SpA to develop a so-called green refinery in Indonesia and to process a palm-based fuel mixture in Italy.

* Pertamina said in a statement, it has signed a head joint venture agreement for the planned refinery in Indonesia that would produce fuel completely derived from crude palm oil (CPO) and a term sheet for CPO processing in Italy.

* Pertamina also signed an agreement to allow it to process CPO at Eni’s refinery in Italy to produce hydrotreated vegetable oil (HVO), which can be used as a mixture in diesel fuel.

* The two companies are also in talks to potentially produce HVO in Indonesia.

* The two companies had previously agreed to conduct studies of potentially converting three of Pertamina’s refineries into green refineries to produce palm-based diesel as Indonesia boost efforts to soak up excess palm supply in the country. (Reporting by Wilda Asmarini; writing by Fransiska Nangoy; editing by Christian Schmollinger)

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