JAKARTA: A massive blaze broke out Monday at one of Indonesia’s biggest oil refineries after a huge explosion turned the sprawling complex into a raging inferno.
Firefighters battled to contain the fire at the Balongan refinery in West Java, operated by state oil company Pertamina, as towering plumes of black smoke rose into the sky.
At least five people were seriously injured and about 1,000 local residents were evacuated from the scene after the fire broke out early Monday morning.
The local disaster agency said one person had died from a heart attack after the explosion.
About 15 people were slightly injured and authorities said they were checking on the whereabouts of three others.
“To prevent the fire from spreading we’ve shut down operations ... and are putting our efforts into handling the blaze,” Pertamina’s president director Nicke Widyawati said in a statement.
The cause of the fire was not clear, but the company said the blaze broke out during a lightning storm.
Pertamina said it did not expect the fire to cause fuel supply disruptions due to the high volume of stock it has on hand.
The sprawling refinery is about 200 kilometers (120 miles) east of the capital Jakarta.
Massive fire engulfs Indonesian oil refinery
https://arab.news/67fru
Massive fire engulfs Indonesian oil refinery
- At least five people were seriously injured and about 1,000 local residents were evacuated
- The sprawling refinery is about 200 kilometers (120 miles) east of the capital Jakarta
SpaceX acquires xAI in record-setting deal as Musk looks to unify AI and space ambitions
- The deal is the biggest M&A transaction of all time
- Deal values xAI at $250 billion, SpaceX at $1 trillion
Elon Musk said on Monday that SpaceX has acquired his artificial-intelligence startup xAI in a record-setting deal that unifies Musk’s AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot. The deal, first reported by Reuters last week, represents one of the most ambitious tie-ups in the technology sector yet, combining a space-and-defense contractor with a fast-growing AI developer whose costs are largely driven by chips, data centers and energy. It could also bolster SpaceX’s data-center ambitions as Musk competes with rivals like Alphabet’s Google, Meta, Amazon-backed Anthropic and OpenAI in the AI sector.
The transaction values SpaceX at $1 trillion, and xAI at $250 billion, according to a person familiar with the matter.
“This marks not just the next chapter, but the next book in SpaceX and xAI’s mission: scaling to make a sentient sun to understand the Universe and extend the light of consciousness to the stars!” Musk said. The purchase of xAI sets a new record for the world’s largest M&A deal, a distinction held for more than 25 years when Vodafone bought Germany’s Mannesmann in a hostile takeover valued at $203 billion in 2000, according to data compiled by LSEG. The combined company of SpaceX and xAI is expected to price shares at about $527 each, another person familiar with the matter said. SpaceX was already the world’s most valuable privately held company, last valued at $800 billion in a recent insider share sale. XAI was last valued at $230 billion in November, according to the Wall Street Journal. The merger comes as the space company plans a blockbuster public offering this year that could value it at over $1.5 trillion, two people familiar with the matter said.
SpaceX, xAI and Musk did not immediately respond to requests for comment.
The deal further consolidates Musk’s far-flung business empire and fortunes into a tighter, mutually reinforcing ecosystem – what some investors and analysts informally call the “Muskonomy” – which already includes Tesla, brain-chip maker Neuralink and tunnel firm the Boring Company. The world’s richest man has a history of merging his ventures together. Musk folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform’s data and distribution. In 2016, he used Tesla’s stock to buy his solar-energy company SolarCity.
The agreement could draw scrutiny from regulators and investors over governance, valuation and conflicts of interest given Musk’s overlapping leadership roles across multiple firms, as well as the potential movement of engineers, proprietary technology and contracts between entities.
SpaceX also holds billions of dollars in federal contracts with NASA, the Department of Defense and intelligence agencies, which all have some authority to review M&A transactions for national security and other risks.
