Sakakemang Block’s development project may face another delay due to the new regulation on industrial gas prices. Repsol objected to the US$ 6 per MMBTU ceiling price set by the government.
The government provides flexibility for investors to choose the form of oil and gas cooperation contracts, including production sharing contracts with operating costs refund, or cost recovery. However, this does not apply to Pertamina.
International Development Finance Corporation (IDFC), the US government's development finance institution, wants to invest in the defense and security, pharmaceuticals, and energy sectors in Indonesia.
The government revised several regulations for National Economic Recovery programs in Government Regulation No. 43/2020 where one of which stressed that government funds would not be placed in private banks.
The Indonesian Crude Price in July 2020 reached US$ 40.64 per barrel, increasing US$ 3.96 per barrel from US$ 36.68 per barrel in June 2020. Another factor supporting the increase in oil prices is the recovery of economic activity in several countries.
Perludem data shows the 20 simultaneous regional election-administering regions have a single candidate. There is a risk of budget wasting if the single candidate loses from an empty ballot box.
RNI will build an industrial area with the concept of a smart industry area on an area of 5,000 hectares in Subang, West Java. It has the potential to obtain a special economic zone status.
