#Primary
Investment in downstream sector reaches US$ 23.6 billion in 2023
The Ministry of Investment/Investment Coordinating Board (BKPM) has noted that investment realization in the downstream sector last year reached US$ 23.6 billion, nearly one third of the total investment realization throughout 2023.
Major Asian banks criticized for weak coal policies
A recent report by Coal Havens assessed coal policies among the 30 largest banks in the Philippines, India, Indonesia, Japan, Malaysia, South Korea, Singapore, Taiwan, and Thailand, which manage total assets exceeding US$ 8 trillion. The study revealed that major Asian banks either lack or have weak coal exclusion policies. Meanwhile, a BankTrack report found that corporate financing remains a preferred option for building new coal infrastructure, indicating gaps in coal exclusion policies.
Captive power plant financing increases, concrete “Stop Coal Financing Policy” needed
Nijmegen, 24 January 2024 - Amid a global decline in project finance for coal-fired power plants, a new report by Dutch research organisation BankTrack finds that corporate finance is the preferred option for building new coal infrastructure. The report shows that there are still loopholes in coal exclusion policies that allow the banking industry to continue financing new coal projects. This is despite the agreement to move away from fossil fuels launched at the COP 28 Climate Change Summit in December 2023.
Potential discovery of lithium, boron deposits in Java
The Geological Agency of the Ministry of Energy and Mineral Resources has identified promising lithium and boron mineral potentials in several regions on the island of Java.
Indonesia still holds vast nickel potential with 1.2 million hectares untapped
The Ministry of Energy and Mineral Resources' Geological Agency reports that Indonesia has a land area of 2 million hectares with nickel potential, out of which only 800,000 hectares have been mined or exploited.
Awaiting Luhut's expertise to realize nuclear power plants in Indonesia
The establishment of the Nuclear Energy Program Implementation Organization (NEPIO) to accelerate the development of nuclear power plants (PLTN) in Indonesia is awaiting approval from President Joko Widodo (Jokowi), a senior official said, Djoko Siswanto, Secretary-General of the National Energy Council (DEN), stated that the formation of NEPIO is a requirement from the International Atomic Energy Agency (IAEA) for Indonesia to develop PLTN.
Pertamina Intl Shipping to have 15 more ships for business strengthening
PT Pertamina International Shipping (PIS), a Pertamina subsidiary engaged in integrated logistics and shipping, has ordered 15 medium-sized ships (40-50,000 deadweight) from Hyundai Mipo Dockyard, Ulsan, South Korea.
Minister of Energy issues warning over Vale's prolonged divestment
Minister of Energy and Mineral Resources, Arifin Tasrif, urges the swift completion of the remaining divestment obligations of PT Vale Indonesia (INCO) as a prolonged divestment process by its foreign shareholders will make the Indonesian government to explore alternative options.
Minister of Energy reveals need for a New LNG Plant in Aceh
Minister of Energy and Mineral Resources, Arifin Tasrif, underscores the necessity for a new liquefied natural gas (LNG) plant in Aceh, as the existing Arun LNG facility in Lhokseumawe is deemed outdated to accommodate the significant gas potential from offshore Andaman Sea oil blocks.
Freeport submits proposal for extended export relaxation until end of 2024
PT Freeport Indonesia has submitted the proposal for an extension of its copper concentrate export relaxation licence from the Indonesian government until the end of 2024.
Strategic status granted to Malaysia's Taipan gas project in West Papua
The gas project managed by Genting Oil Kasuri Pte Ltd (GOKPL) in the Kasuri Block, West Papua, has officially obtained national strategic project (PSN) status earlier this year.
Indonesia discovers lithium deposit in Central Java
The Geological Agency of the Ministry of Energy and Mineral Resources (ESDM) has confirmed the discovery of a 'rare treasure' in the form of lithium as previously claimed by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan.