Pertamina Pursues Overseas M&A to Meet Domestic Goals

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  • Pertamina’s recent flurry of acquisitions is aimed at ensuring Indonesia’s energy security as the country lags behind ambitious production targets.
  • Unlike Western majors and some other state-run companies, Pertamina’s appetite is for oil assets, in line with Indonesia’s structural shortage of refined products, rather than gas.
  • More Pertamina deals could materialize in the near future with a focus on securing crude oil grades that can be processed at the company's aging refineries.

The Issue

M&A, Corporate Strategy , NOCs, Upstream Projects
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