Indonesia may achieve its oil target of 900,000 barrels of oil per day (bpd) in 2015 as the Banyu Urip field in Cepu (East Java) is expected to start production in February next year. Indonesian upstream oil and gas regulator SKKMigas stated that the oil field has now been completed for 92.5 percent. The oilfield’s early production facility is already producing 30,000 bpd. This is expected to increase to 165,000 bpd once production has reached its peak in mid-2015. This peak level is estimated to last for three years.

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On 21 September 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such Indonesia’s fuel subsidies, the Federal Reserve’s FOMC meeting, the IPO of Blue Bird, August car sales, foreign investments in the insurance sector, a palm oil update, the current account deficit, and more.

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The Indonesia Stock Exchange (IDX) expects five more initial public offerings (IPOs) before the end of this year. These companies are the Blue Bird Group, Soechi Lines Indonesia, Imack Pratama Industri, Intan Baruprana Finance, and Karisma Aksara Mediatama. The IPO of Blue Bird, known for its taxi services, is the most awaited one. The company is expected to sell 20 percent of its enlarged capital to the public and aims to raise about USD $450 million, making it one of the largest IPOs on the IDX since Indofood CBP Sukses Makmur in 2010.

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Indonesian car sales, an important indicator to measure consumer confidence and domestic consumption, surged 24.1 percent (year-on-year) to 96,728 vehicles in August 2014. However, this growth pace is heavily influenced by public holidays and thus does not signal a marked improvement in Indonesian consumer confidence. In August last year, Indonesian car sales fell because of the limited amount of working days amid the Lebaran holiday (Idul Fitri), causing reduced production and distribution of cars and motorcycles.

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