The Banten provincial government has signed a preliminary agreement with PT Elnusa to build a major oil refinery at an estimated cost of Rp 5 trillion (US$550 million), as well as an oil-storage tank farm, in the province.

Facing increasing competition in the retail gasoline sector, state oil and gas firm PT Pertamina plans to increase the number of gas stations selling high-quality biofuel, known as Biopertamax, from 1 at present to 24 by the end of this month.