City Profile :
Some multinational corporations operate in East Borneo. Companies including Baker Hughes (US), ChevronTexaco (US), Halliburton (US), Pertamina (Indonesia), Schlumberger (France), Thiess (Australia), Total S.A. (France) and Weatherford International (US) use Balikpapan as their base of operations in the region. Governmental public services including Bank Indonesia, the Finance Department, the Port of Semayang, and several others also attract many people to work in this area.

Balikpapan oil refinery is on the shore of Balikpapan Bay and covers an area of 2.5 square kilometres (1 sq mi). Founded in 1922, it is the oldest refinery in the area. The Allies of World War II destroyed it in the Second World War and Shell re-built it in 1950. The refinery has two subunits, Balikpapan I and Balikpapan II.

Balikpapan I has two raw oil refinery units that produce naphtha, kerosene, gasoline, diesel fuel, and residue and one high-vacuum unit that produces 100 tonnes (110 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 1 November 1983, Balikpapan II has a hydro-skimming and hydro-cracking refinery and produces petrol, LPG, naphtha, kerosene, and diesel fuel.