#Energy
Saudi Arabia's oil cuts and deals caused world wide geopolitical and economical implications
Saudi Arabia, motivated by economics, held a significant development through oil deals, oil cuts, and became a member of the China-led Shanghai Cooperation Organization (SCO) amidst geopolitical, and economic implications.
MBMA plans IPO worth IDR 8.75 billion to fund nickel processing projects
PT Merdeka Battery Materials Tbk (MBMA), a nickel mining company, recently initiated its initial public offering (IPO).
Energi Mega Persada is looking for new opportunities in finding additional assets
PT Energi Mega Persada Tbk (ENRG), a publicly listed Bakrie Group company in oil & gas, is looking for opportunities to acquire additional assets to add value to the company's shareholders.
Bukit Asam sets IDR 6.4 trillion Capex for business expansion, investment opportunities
State-owned coal mining company PT Bukit Asam Tbk (PTBA) has budgeted IDR 6.4 trillion (US$ 413.7 million) Capital expenditure (Capex) in 2023, more than double its 2022's Capex of IDR 2.9 trillion, for business expansion and investments in its subsidiaries.
PGN sets US$ 458 million Capex for construction of 400,000 housing gas network
State-owned gas transportation and distribution firm PT Pertamina Gas Negara Tbk (PGAS), more popular as PGN, has set US$ 458 million (IDR 7 trillion) in Capital expenditure (Capex) for 2023 to facilitate the construction of 400,000 gas network for housing.
Repsol exits Indonesia's oil and gas sector, relieving Andaman III block to the government
European oil and gas company, Repsol, is reportedly in the process of withdrawing from the Indonesian oil and gas block, Andaman III, in Aceh. Repsol is returning the mega project to the country due to unsuccessful exploration activities.
UK and United Arab Emirates companies express commitments to explore the Andaman Block off the coast of Aceh
The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has reported that further exploratory drilling will be carried out in several work areas (WK) in the Andaman Sea, off the coast of Aceh.
Pertamina and Petronas officially took over Shell's participation right in Masela Block
Indonesian state-owned oil and gas company PT Pertamina, and Malaysian oil and gas company Petronas have officially taken over 35% shares in the participation rights of the LNG Blok Masela project previously owned by Shell.
Economist argues that ban on gas exports may trigger retaliatory actions
The plan of Luhut Binsar Pandjaitan, the Coordinating Minister for Maritime Affairs and Investment, to continue the downstreaming policy by halting the export of liquefied natural gas (LNG), is considered high-risk for the country's exports. This is because Indonesia could be perceived as engaging in trade protectionism, leading to retaliatory actions from its trading partners.
Renewable energy draft bill stuck in the pipeline as House cannot conclude discussions on power wheeling
The House of Representatives (DPR) and the government have yet to successfully pass the Draft Bill on New and Renewable Energy (RUU EBT) after approximately a year of discussions.
Pertamina partners with Chevron and Exxon to develop CCUS prototype
Coordinating Minister for Economic Affairs Airlangga Hartarto announced that the government is currently in the process of developing prototype of carbon capture, utilization, and storage (CCUS) technology.
70 companies join KADIN's Net Zero Hub program
As many as 70 companies have registered in the Net Zero Hub program initiated by the Indonesian Chambers of Commerce and Industry (KADIN).