Wood Mackenzie assessed that the government's decision to give options for investors to choose an oil and gas production sharing contract scheme, both gross split and cost recovery, would encourage investment in the oil and gas sector.
The Renewable Energy Bill, currently under discussion between the government and the House of Representatives, will also contain provisions on nuclear power plants’ development. However, such plants must become the last resort due to the high risk.
Indonesia has four piped and liquefied natural gas (LNG) export contracts that will expire between 2020 and 2028.
The Organization for Economic Co-operation and Development cut its projection for Indonesia’s economy this year from minus 2.8 percent to minus 3.3 percent. Social restrictions and the increase of confirmed COVID-19 cases are the determining factors.
Bank Indonesia has again left its benchmark interest rate unchanged at four percent as a part of the economic recovery strategies.
The government is trying to attract 143 companies intending to relocate their factories from China through cheap land and new regulations.
Bank Banten claims to have secured domestic and foreign investors to increase capital by Rp 2.9 trillion. The planned merger with Bank Pembangunan Jawa Barat dan Banten is now unlikely.
PT Dirgantara Indonesia has expanded its maintenance, repair, and overhaul services in collaboration with PT Garuda Maintenance Facility (GMF) Aero Asia Tbk. It aims to exploit a US$ 3 billion worth of market niche.
The Chamber of Commerce and Industry (Kadin) and the Indonesian Employers' Association (Apindo) are asking for an exemption from industrial electricity costs until December 2020. This demand will cost up to Rp 30 trillion.
PGN Saka ensures the continuation of Sidayu and West Pangkah Fields development projects, expecting the gas production to start in the middle of the fourth quarter of 2020.