Pertamina oil Amid rising doubts about OPEC’s crude oil production freeze agreement, one member of the organization that’s so far stayed out of the spotlight has declared its plans to raise oil output by 42 percent in 2017. A spokeswoman for Indonesia’s state-owned oil firm Pertamina said that the company seeks to raise its total output to 438,000 bpd next year, up from an average of 308,000 bpd in 2016. Wianda Pusponegoro added that most of the increase will come from acquisitions in Russia, Iran, and Iraq. Indonesia’s own oil deposits are on the whole mature, with peak production well behind them. Earlier this month, media reported that Pertamina and Rosneft had sealed a deal for the construction of a refinery in Indonesia, which may also include Pertamina buying into Russian production projects. According to Rosneft, the Indonesian company could get up to 20 percent in the Northern Chayvo […]