The government encourages Sinopec Group to immediately realize the construction of an oil depot in Batam worth US $ 841 million. The project has been stalled for almost eight years, allegedly due to the act of oil and gas mafia.

The government is reviving the oil and gas cost recovery revenue-sharing contracts mechanism. This new regulation is believed to provide legal certainty and increase business investment in the oil and gas sector.

As of Sunday (8/2), Indonesia’s COVID-19 tally went up by 1,519 to 111,455 cases in the last 24 hours.

The emergence of new COVID-19 clusters in malls and offices could force DKI Jakarta Provincial Government to tighten PSBB. If this happens, the non-food and beverage retail sector could suffer from severe liquidity problems.

OJK will issue new rules governing the investment portfolio in the insurance industry, specifically for investment-linked insurance products (Paydi).

COVID-19 Pandemic still suppresses corporate performance, including corporations engaged in the health sector.

The government considers reopening opportunities for Indonesian migrant workers and prospective workers to work abroad is crucial for economic recovery, amid pressures from employers and job seekers.

SKK Migas said many are interested in the Masela Block gas production, including CPC from Taiwan. The prospective gas buyers have already signed MoUs with Inpex Corporation.

The third phase of transitional COVID-19 restriction takes effect from July 31 to August 13, 2020. The city administration will impose progressive fines on companies repeatedly violate the health protocol.

The public disagreed with SOEs commissioners in the selection committee on fears that they could weaken Ombudsman, who often criticizes SOEs.