Communicator

Starting 2025 with a Pre-Bid Meeting for GRR Tuban Procurement

Jakarta, January 16, 2025 – As a grass-root project built from the ground up, PT Pertamina Rosneft Pengolahan dan Petrokimia (PRPP) recognizes the complexity of preparing for the construction of the integrated fuel refinery with a petrochemical industry, Grass Root Refinery (GRR) Tuban.

Dduring a pre-bid meeting for site development work held in Jakarta on 14 Jan 2025), Reizaldi Gustino, President Director of PRPP, highlighted that the quality of site development work will significantly impact the execution of the engineering, procurement, and construction (EPC) stages of the GRR Tuban Project.

Echoing Reizaldi’s statements, Irwan Priyasa, PRPP Commissioner, representing the company’s Board of Commissioners, emphasized that the success of the site development work would impact the overall project timeline.

The pre-bid meeting for the site development work procurement is part of the procurement process, aimed at providing clarification to all bidders regarding documents, procedures, and requirements for the tender.

The scope of this work includes the preparation and conditioning of the GRR Tuban area before the construction of refinery facilities. Specific tasks include land elevation adjustments and the development of basic infrastructure across approximately 841 hectares.

The event was attended by all PRPP Board of Directors, representatives of PT Kilang Pertamina Internasional shareholders, including Albin Ginting, Vice President of Project Management, as well as representatives from 13 pre-qualified bidders, both domestic and international, eligible to participate in this procurement tender.

In addition to the site development work procurement, a pre-bid meeting was also held in 2024 for EPC work packages of the GRR Tuban Project, during which 25 pre-qualified bidders were registered for a total of seven EPC work packages.

Source: PT PRPP News Highlight.

#pertamina  #indonesia  #jakarta  #java  #rosneft  #prpp  #refinery 

PT Pertamina Rosneft has been added.

#pertamina  #rosneft  #jointventure  #refinery  #indonesia 

Photo: Russian crude oil tanker. Credit: Defense.in

13^th Dec2024 | News aggregation
 
Russian state oil company Rosneft has signed a landmark 10-year agreement to supply 500,000 barrels of crude oil per day to India's Reliance Industries (RIL), marking the largest energy deal ever between the two countries. The agreement, valued at approximately $13 billion annually at current prices, represents 0.5% of global oil supply.

Under the terms of the deal, Rosneft will deliver 20-21 Aframax-sized cargoes of various Russian crude grades and three cargoes of fuel oil monthly to Reliance's Jamnagar refining complex, the world's largest, in Gujarat. The supplies are scheduled to begin in January, with an option to extend the agreement for an additional 10 years.

The pricing structure includes differentials to Dubai crude prices, with Russian Urals crude, which makes up the majority of the supply, to be priced at a $3 per barrel discount. Light sweet grades like ESPO, Sokol, and Siberian Light will carry premiums ranging from $1 to $2 per barrel.

This agreement significantly expands the existing relationship between the two companies. From January to October, Reliance had been importing an average of 405,000 barrels per day of Russian oil, an increase from 388,500 barrels per day during the same period last year. The new arrangement will account for approximately half of Rosneft's seaborne oil exports from Russian ports.

The deal was approved during Rosneft's board meeting in November and both companies will conduct annual reviews of pricing and volumes to account for market dynamics.

#russia  #india  #rosneft  #reliance  #jamnager  #refinery  #urals  #crudeoil  #espo  #sokol 

Indian state oil refineries are negotiating with Russian "Rosneft" for oil supplies of about 500,000 barrels per day, reports Bloomberg. These negotiations involve long-term contracts, whereas currently, India primarily purchases Russian oil on the spot, i.e., immediate market. In January, oil deliveries from Russia fell by 4-9% compared to December, down to 1.2-1.3 million barrels per day.

The economic rationale of the Indians for why buying Russian oil at discounts is beneficial for the global market is interesting. India's Minister of Petroleum and Natural Gas Hardeep Singh Puri told CNBC, "The world is grateful to India for buying Russian oil. If we start buying more Middle Eastern oil, the price of oil will not be at the level of 75 or 76 dollars. It will be 150 dollars per barrel."

#india  #russia  #rosneft