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The latest oil storage plan will be announced

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Indonesia to build oil storage facility near

. JAKARTA – The government is mulling over a plan to build an oil storage facility on an island adjacent to Singapore, according to Energy and Mineral Resources Minister Bahlil Lahadalia, as part of the country''s pursuit of

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Will Indonesia set up an oil storage facility near Singapore?

ANTARA FOTO/Akbar Nugroho Gumay Jakarta (ANTARA) - Indonesia is planning to set up an oil storage facility on an island near Singapore to meet the energy self-sufficiency target set by President Prabowo Subianto, according to Minister of Energy and Mineral Resources Bahlil Lahadalia.

How much oil can be stored in China?

With a maximum oil storage capacity of 60,000 metric tons and a designed life of 30 years, it is capable of processing 5,600 tons of crude per day, its operator China National Offshore Oil Corp said. The project is currently at the integrated commissioning stage.

Can idle oil fields boost national oil production?

Of the large number of idle fields, around five thousand have the potential to be optimized to boost national oil production. Indonesia is planning to set up an oil storage facility on an island near Singapore to meet the energy self-sufficiency target set by President Prabowo

Is China stepping up offshore oil & gas development?

China has been stepping up offshore oil and gas development in recent years and investments in offshore oil and gas exploration are expected to continue rising this year, with more than half of this year's domestic oil increment likely to come from offshore resources, according to a report released by CNOOC.

Will Indonesia cut imports of crude oil in 2024?

Earlier in Jakarta on October 14, 2024, the minister highlighted that the Indonesian government is aiming to make the most of existing oil fields to cut imports of crude oil, whose value has reached around Rp500 trillion (US$31.4 billion) per year.

What will Shanghai's energy-storage project do?

Zhuang Mudi, deputy secretary-general of the Shanghai municipal government, said the project will help drive the development of the new energy-storage industry, as well as the green and low-carbon transformation of Shanghai.

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