Economy

Some multinational corporations have commercial activities in this city such as Pertamina (Indonesia), Total S.A. (France), Chevron (US), Schlumberger, and Halliburton (US). Government public services also attract many people to work in this area, with presence of Bank Indonesia, Finance Department, Port of Semayang, and several others.

Balikpapan oil refinery is located on the shore of Balikpapan Bay and covers an area of 2.5 km². Established in 1922, it is the oldest refinery in the area. It was destroyed in World War II by the Allies of World War II and re-built in 1950. The refinery has two subunits, Balikpapan I and Balikpapan II.

Balikpapan I consists of two raw oil refinery units that produce naphtha, kerosene, gasoline, diesel fuel, and residue and one high-vacuum unit that produces 100 tonnes (approx 98 tons) of paraffin oil distillate (POD), used as raw material for wax factories. The wax itself has various grades and is sold domestically and internationally.

Opened on November 1, 1983, Balikpapan II has a hydro-skimming and hydro-cracking refinery and produces petrol, LPG, naphtha, kerosene, and diesel fuel.