Indonesia Bets Big on Oil With $12.5 Billion Refinery Gamble

Indonesia is going all-in on oil with a massive $12.5 billion refinery project, aiming to cut imports, boost energy security, and flex some refining muscle. The government announced plans for the 531,500-barrel-per-day facility, making it one of the largest in the region—because when you’re an economy growing as fast as Indonesia’s, relying on imports just isn’t cutting it anymore. “We will build a refinery that, In shaa Allah, will have a capacity of approximately 500,000 barrels,” Energy Minister Bahlil Lahadalia…