#Oil and Gas
Indonesia explores crude oil imports and energy cooperation with Russia
Indonesia is opening its door for crude oil imports from Russia, following high-level discussions during President Prabowo Subianto’s recent visit to Moscow.
PIS monitors geopolitical risks, eyes maritime revitalization with PT PAL
The shipping arm of state-owned oil and gas giant, Pertamina International Shipping (PIS), is closely monitoring developments in critical maritime routes while preparing contingency strategies to ensure continued energy security.
Pertamina reroutes oil tankers amid escalating Iran-Israel conflict
State energy company PT Pertamina has rerouted its crude oil shipments from the Middle East to Indonesia as tensions between Iran and Israel escalate, raising the prospect of a full closure of the strategic Strait of Hormuz.
Oil production on the rise, surpassing 2024 Output: SKK Migas
The national oil and gas sector has shown signs of recovery as oil production begins to climb steadily, surpassing last year’s levels, with the Upstream Oil and Gas Regulatory Task Force (SKK Migas) revealing that national crude oil output was recorded at 583,275 barrels of oil per day (BOPD) in June, up from 580,405 BOPD in May and exceeding the full-year 2024 average of 580,142 BOPD.
MedcoEnergi commences first oil lifting from Forel Field in South Natuna Sea
Energy company PT Medco Energi Internasional (MedcoEnergi) has announced the commencement of first oil lifting from the Forel oil and gas field located in the South Natuna Sea Block B, Riau Islands Province, marking a new milestone in Indonesia's upstream energy sector.
Pertamina names new top level management
State energy company PT Pertamina announced a reshuffle in its board of directors and board of commissioners during a General Shareholders Meeting (RUPS) in Jakarta on Thursday, June 12, 2025, a measure that reflects strategic consolidation as the company transitions into the government-initiated energy holding, Danantara.
MedcoEnergi completes US$461.52 M bond buyback, launches new US$400 M notes
Oil and gas company PT Medco Energi Internasional (MEDC) has approved a final dividend payout of US$37.95 million during its Annual General Meeting of Shareholders (AGMS) on Tuesday, June 3, 2025, raisingthe company’s total dividend distribution for the 2024 fiscal year to US$63.29 million.
Medco posts Q1 profit decline amid lower contribution from Amman Mineral
PT Medco Energi Internasional (Medco) reported a sharp decline in net profit for the first quarter (Q1) of 2025, down nearly 75.23 percent year-on-year to US$18 million (Rp 293.32 billion), from US$72.66 million in the same period last year. The figure also marks a significant drop from the US$94.08 million profit posted in the fourth quarter of 2024.
ExxonMobil Indonesia names Wade Floyd as new president
ExxonMobil Indonesia has announced the appointment of Wade Floyd as its new president, succeeding Carole Gall.
Government to offer 60 new oil&gas working areas in the next two years
The Upstream Oil and Gas Regulatory Task Force (SKK Migas) has reaffirmed its commitment to accelerating energy security and boosting investor confidence through increased upstream investments and production capacity.
PGN Synergy secures domestic gas supply through swap gas agreement
With government’s support, PT Perusahaan Gas Negara (PGN) has secured additional gas supply to meet growing domestic demand after the State-owned gas company signed two strategic agreements − a Domestic Swap Agreement and a Gas Sales Agreement − with the West Natuna Group.
RI regains favor as global oil&gas exploration hub amid improved investment climate
Indonesia is once again emerging as a top destination for global oil and gas (O&G) exploration investment, as recent large-scale hydrocarbon discoveries and regulatory improvements restore investor confidence in the country’s upstream sector.