#Energy
OJK issues regulation on carbon trading, government expects trading value to reach US$ 15 billion annually
The Financial Services Authority (OJK) has introduced a regulation regarding carbon trading via carbon exchanges. This regulation, referred to as OJK Regulation (POJK) No. 14/2023, provides instructions and guidance for market organizers engaged in carbon trading through carbon exchanges.
Energy transition funding delayed to end of 2023 while energy organization object towards the funding
The Comprehensive Investment and Policy Plan (CIPP) for the funding of the Just Energy Transition Partnership (JETP), which was initially scheduled for release on Wednesday, August 16th, has been postponed until late 2023.
Experts called upon halting the construction of new smelters as nickel reserves dwindle
Mining experts and members of Indonesia's House of Representatives (DPR RI) have jointly called upon the government to halt the construction and implement a moratorium on new nickel smelters within the country.
PLN and CCCC signs agreement for renewable energy development in Indonesia
PT PLN (Persero) has recently taken a significant stride towards the development of renewable energy (RE) in Indonesia by signing a business agreement with a Chinese company China Communications Construction Co., Ltd (CCCC).
World Bank to pay East Kalimantan for excess carbon emission reduction
After two days of meeting with World Bank officials, 1 million tons of excess CO2e emission reductions for East Kalimantan for the 2019-2020 period will be paid for by the Forest Carbon Partnership Facility-Carbon Fund (FCPF-CF).
Indonesia’s export market suffers as China’s demand slumps
Indonesian exports witnessed a significant drop last month, but a substantial decline in imports allowed the country ro maintain a trade plus, reflecting the adverse impact of a weakened global economy on trade flows.
Government prepares more incentives to attract company interest in open area drilling
The Upstream Oil and Gas Regulatory Task Force (SKK Migas) will offer additional incentives to companies that are interested in managing oil and gas basins in open areas.
Pertamina Geothermal Energy issues US$ 400 million green bonds to settle debt
PT Pertamina Geothermal Energy Tbk (PGE/PGEO), has issued green bonds worth US$ 400 million (IDR 5.95 trillion). The company received oversubscriptions of 8.25 times with a total bid of US$ 3.3 billion (IDR 49.12 trillion).
China's interest in Indonesian coal gasification project grows as US companies opt out
An energy company from China has expressed interest in investing in the coal gasification project to produce Dymethyl Ether (DME) in Tanjung Enim, South Sumatra, as reported by the Ministry of Energy and Mineral Resources.
US EXIM Bank approves US$99.7 million loan for Balikpapan refinery project
US EXIM Bank has finally granted loan disbursement worth US$99.7 million for the Refinery Development Master Plan (RDMP) operated by Pertamina subsidiary PT Kilang Pertamina Balikpapan.
Unsteady JETP funding and the prospects of China-Indonesia energy cooperation
The US, Japan, and several G7 and European Union (EU) countries committed to providing US$20 billion worth of funds for Indonesia’s energy transition under the Just Energy Transition Partnership (JETP) scheme during the G20 Summit in November last year.
Coal mining investment remains strong despite declining commodity prices
Investment in the coal mining sector is predicted to remain strong in the short term because it is supported by the annual production target set by the government. Currently, the flow of investment in coal has not been disrupted by its selling price, which is currently dropping drastically.