Oil-Rich Family Bets Its Millions on Cleaner Fuel in Indonesia
For much of Juchiro Tampi’s life, black gold from Indonesia’s resource-rich soils powered his family’s business — one of the country’s few privately held petroleum producers. But as prices falter and environmental activism rises, he’s turning from oil to a cleaner energy source: natural gas. Tampi’s firm Sele Raya plans to raise $100 million in an initial public offering of some […]
A $650 million renewable plan in Indonesia eyed by South Korean power entity
A power manufacturer situated in South Korea is looking to fund a hydropower industry scheme in Central Java that would be the purchasers of coal first renewable energy partnership with Indonesia. Korea South Power (KOSPO) is currently going through a practicality study to develop the 230-megawatt (MW) Maung hydropower industry in Banjarnegara, Central Java, having Indonesian […]
Indonesia’s Bumi eyes $1 billion-plus coal gasification plant amid debt settlement
JAKARTA (Reuters) – Indonesia’s PT Bumi Resources (BUMI.JK) is looking into building a coal gasification plant potentially worth more than $1 billion, a director said on Wednesday, noting such a move would support Indonesian plans to reduce its reliance on energy imports. President Joko Widodo’s main economic agenda for his second term in office is […]
HSBC lags as finance cleans up on Asian energy
Last week marked a significant milestone in the financial sector’s ever-increasing rejection of coal, as the world’s largest fund manager BlackRock, with more than US$6.5 trillion assets under management, announced it would drop thermal coal from its actively managed portfolios. It came only days after new figures revealed that 2019 saw US coal power plants shut down […]
Indonesia’s Pertamina considers buying stake in Rokan block ahead of 2021 transfer
JAKARTA: Indonesia state oil and gas company PT Pertamina is considering buying a participating interest in Rokan block this year, an official said, only a year ahead of the block being handed over to the company from Chevron Corp. Indonesian government decided in 2018 that the operation of Rokan, the country’s second-biggest crude oil producing block, would be transferred to Pertamina […]
South Korean power company eyes $650m renewable energy project in Indonesia
A South Korean power producer is looking to finance a hydropower plant project in Central Java that would be the coal buyer’s first renewable energy deal with Indonesia. Korea Southern Power (KOSPO) is currently reviewing a feasibility study to develop the 230-megawatt (MW) Maung hydropower plant in Banjarnegara, Central Java, with Indonesian state-owned construction firm Nindya Karya […]
N. Sumatra, W. Nusa Tenggara add small renewable-energy plants
The provinces of West Nusa Tenggara (NTB) and North Sumatra have begun operating four renewable-energy power plants with a modest production capacity of 11.8 megawatts (MW) combined. East Nusa Tenggara launched the 5MW Sambelia solar power plant in Lombok in December of last year. North Sumatra began operating the 5MW Bakal Semarak mini hydropower plant, […]
Govt to Cut Pertamina’s Crude Oil Import Quota
TEMPO.CO, Jakarta – The Ministry of Energy and Mineral Resources (ESDM) Directorate General of Oil and Gas has decided to cut back on Pertamina’s crude oil import quota for 8,000 barrels per day, or about 30 million barrels within this year. The Task Executor of Oil and Gas DG, Djoko Siswanto, stated that the state energy company had absorbed 120,000 barrels per day from the Gas Cooperation Contract Holders (KKKS) quota. […]
