Ministry of Energy and Mineral Resources (ESDM) has extended an invitation to Chinese oil and gas companies to invest in the expansion of gas development projects in Indonesia.
The Ministry of Energy and Mineral Resources (ESDM) has announced the offering of Phase III Oil and Natural Gas Working Areas (WK Migas) for the year 2023. These three oil and gas blocks are all located in the Papua region.
The Indonesia Clean Energy Forum (ICEF) has identified a compelling reason behind the surge in major companies venturing into renewable energy projects (EBT). One of the driving forces behind this trend is the allure of potential business opportunities within the carbon market.
The Indonesian government, through the Financial Services Authority (OJK), has announced that carbon trading through a carbon exchange will commence on September 26, 2023.
Coal and electric vehicle company PT TBS Energi Utama Tbk (TOBA) – which 10% of shares are owned by Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan – has allocated between US$ 50 million and US$ 60 million of capital expenditure (Capex) for the year 2023. The Capex would be allocated for the development of the new EVs and the renewable energy with its subsidiaries.
PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons.
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.
PT Galva Technologies Tbk (GLVA) has planned to allocate IDR 80 billion of Capex for 2023 to strengthen the company’s recurring income through managed services business model.
