The Indonesian oil and gas downstream market is expected to register a CAGR of more than 4% during the forecast period 2022-2027. The COVID-19 outbreak in Q1 2020 led to declines in the refining and petrochemical production output. Factors such as increasing demand for petrochemical products, growing oil and gas consumption, surging investments in the refinery, and petrochemical projects are expected to drive the oil and gas downstream market during the forecast period. However, an increase in the adoption of electric vehicles is expected to hinder the growth of the oil and gas downstream market.
The refinery segment is expected to dominate the market during the forecast period, owing to increasing refining capacities across the country. Digitalization and modernization of the refining and petrochemical sectors are expected to reduce refining costs. This, in turn, is expected to create an opportunity for the market during the forecast period. Growing oil and gas consumption in the country is expected to be the major driver for the Indonesian oil and gas downstream market during the forecast period.
We are pleased to announce that the 5th Refining & Petrochemical Innovation Conference Indonesia 2023 will be held on June 27-28, 2023 in Jakarta, Indonesia, where senior refining and petrochemical professionals from Indonesia and beyond will meet to discuss the latest investment developments, regulation landscape and operational challenges facing the refining and petrochemical industry.It should be the ideal platform for refining and petrochemical companies/individuals to know the latest updates and explore partnership opportunities for staying ahead of the game. We look forward to meeting you there!
