Business and Investment
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Pertamina International EP exceeds 2023 oil and gas production targets
State energy giant Pertamina’s global arm, Pertamina International EP (PIEP), booked outstanding performance last year with its oil and gas production from its overseas assets exceeding its targets.
KAI gets financing from China Development Bank for Jakarta-Bandung HSR project
PT Kereta Api Indonesia (KAI) has signed a facility agreement with the China Development Bank for financing the cost overrun of the Jakarta-Bandung High-Speed Rail project. The loan disbursement was received on February 7, 2024.
PLN gets US$1 million grant from USTDA for renewable energy study
State-owned electricity company PT PLN has secured a grant of approximately US$1 million (IDR 15.6 billion) from the United States Trade and Development Agency (USTDA) in support of a feasibility study for the development of new renewable energy infrastructure in five remote, outermost, and disadvantaged regions (3T) in Eastern Indonesia.
Pertamina claims competitive pricing for aviation fuel
PT Pertamina Patra Niaga, a Commercial & Trading Sub-Holding of PT Pertamina, responds to findings by the Business Competition Supervisory Commission (KPPU) regarding the monopoly of aviation fuel sales.
Defense ministry: Graft allegation in Mirage Jet purchase misleading, slanderous
The Ministry of Defence has defended that media reports on alleged corruption in purchase of French-made Dassault Mirage 2000-5 fighter jets from Qatar, which had been cancelled, were misleading and slanderous.
Lemigas advances research on carbon capture technologies in Indonesia
The Oil and Gas Institute (Lemigas) has conducted a series of studies related to the implementation of Carbon Capture Storage (CCS) and Carbon Capture and Utilization Storage (CCUS) technologies in Indonesia.
Trenggono aims for 30 percent marine conservation by 2045
Minister of Maritime Affairs and Fisheries, Sakti Wahyu Trenggono, has renewed his ministry's commitment to preserving conservation areas in Indonesia, with the goal of reaching 30 percent coverage by 2045.
Jokowi's Flagship Projects Absorb USD $105.36 Billion of State Budget
The Coordinating Ministry for Economic Affairs (Kemenko Perekonomian) reports a substantial allocation of State Budget (APBN) totaling Rp1,515.4 trillion (USD $105.36 billion) dedicated to advancing the development of National Strategic Projects (PSN). Wahyu Utomo, Deputy for Coordination of Regional Development and Spatial Planning at the Coordinating Ministry for Economic Affairs and Chairman of the Executive Committee of the Committee for Accelerating the Provision of Priority Infrastructure (KPPIP), highlighted the significant impact of this budget, resulting in the completion of 190 PSN projects between 2016 and 2023.
Formation of PLN's Midstream LNG Joint Venture Enters Auction Phase
PT PLN Energi Primer Indonesia (PLN EPI) is set to establish a joint venture company to build and operate midstream LNG infrastructure as part of the company's power plant gasification program. Mamit Setiawan, Corporate Secretary of PLN EPI, revealed that the company is currently conducting auctions to select potential partners. "In each cluster, PLN EPI will partner with one selected partner, which could be a single company or a consortium consisting of multiple companies," said Mamit when contacted on Friday (9/2/2024).
Removal of New Scheme for Rooftop Solar Panels Claimed as Middle Ground
President Joko Widodo's decision to revise regulations regarding the use of Rooftop Solar Power Plants (PLTS) has been deemed by the Indonesian Consumers Foundation (YLKI) as a compromise between national budget constraints and public interests. "This represents a win-win solution for all parties involved. The state is not burdened, and individuals seeking to generate electricity from renewable sources can still install rooftop PLTS," said Tulus Abadi, Chairman of YLKI, in a press release on Friday (9/2/2024). He also stated that this step is very realistic for the country's electricity system given the current empirical conditions.
Challenges to Indonesia's 7 percent economic growth target
Indonesia faces formidable challenges in achieving a 7-percent economic growth target, primarily due to the uncertainties in the global economy and inneficient imnvestment in the country, resulting in commodity price weakness. As of 2023, the Indonesian economy recorded a growth of 5.05 percent, a decline from the previous year's realization of 5.31 percent.
PTPN seeks growth expansion in tobacco plantation to 750 hectares
In pursuit of bolstering its export production for a key commodity, PT Perkebunan Nusantara (PTPN) is set to increase its tobacco cultivation area to 750 hectares this year. The expansion initiative will be spearheaded by PTPN I Regional 4 across the Ajong Gayasan, Kertosari, and Klaten plantations.