Research Article
Cancelation of Saudi Aramco Investment in Cooperation to Develop the Oil Refinery in Cilacap
@INPROCEEDINGS{10.4108/eai.14-9-2021.2321383, author={Fitrah Aisyah Adam}, title={Cancelation of Saudi Aramco Investment in Cooperation to Develop the Oil Refinery in Cilacap}, proceedings={Proceedings of the 6th International Conference on Social and Political Enquiries, ICISPE 2021, 14-15 September 2021, Semarang, Indonesia}, publisher={EAI}, proceedings_a={ICISPE}, year={2022}, month={9}, keywords={joint venture pt pertamina saudi aramco political bargaining models}, doi={10.4108/eai.14-9-2021.2321383} }- Fitrah Aisyah Adam
Year: 2022
Cancelation of Saudi Aramco Investment in Cooperation to Develop the Oil Refinery in Cilacap
ICISPE
EAI
DOI: 10.4108/eai.14-9-2021.2321383
Abstract
Indonesia through PT Pertamina and Saudi Aramco in 2016 officially started the negotiation process to form a joint venture for developing the Cilacap Refinery in Central Java which is Pertamina's Refinery Development Master Plan (RDMP). However, results from the negotiation efforts are not as expected investment from Aramco was canceled. Author's initial identification apart from economic factors, there are non- economic factors that affect the process. Therefore, this paper aims to analyze the cancellation of Saudi Aramco's investment in a joint venture with Pertamina for developing the oil refinery in Cilacap using the Political Bargaining Models. Moreover, this analysis hoped to reveal non-economic factors that affected the cancellation of the cooperation.