State’s Petrochemical Refinery

Surprising news appeared on the finance ministry’s directorate-general of state assets management’s website on Tuesday, November 19. Pertamina have acquired Tuban Petrochemical Industries (TPI) for Rp3.1 trillion. The state-owned oil and gas company is now officially the majority shareholder of TPI, the parent company of aromatics factory Trans Pacific Petrochemical Indotama (TPPI), based in Tuban, East Java.

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