Below is a list with tagged columns and company profiles.

Today's Headlines Oil & Gas

  • Increased Imports and Declined Exports Result in Indonesia's Trade Deficit

    Exports have always been an important asset to Indonesia's economy. Throughout history, Indonesia recorded a continuous series of trade surpluses. In 2012, however, the country recorded its first ever trade deficit as imports rose (partly due to increased demand of the Indonesian people), while exports declined due to global turmoil and uncertainty. A trade deficit is a new phenomenon to Indonesians and has caused some anxiety in the country.

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Latest Columns Oil & Gas

  • Global Crude Oil Prices Decline to Historic Lows, How Does It Affect Indonesia?

    Global Crude Oil Prices Decline to Historic Lows, How Does It Affect Indonesia?

    Besides the novel coronavirus (COVID-19) outbreak, another big news story in March 2020 was the massive decline of global crude oil prices. Not only is the price of oil under pressure because of the enormous slowdown in economic activity as various governments have imposed restrictions (such as travel bans) in an attempt to curb the further spread of the coronavirus, but there also emerged big tensions between some of the world’s biggest oil producers that led to tumbling oil prices.

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  • Join the 5th ASEAN Refining and Petrochemical Forum in Jakarta

    Join the 5th ASEAN Refining and Petrochemical Forum in Jakarta

    The 5th ASEAN Refining and Petrochemical Forum is set to gather global and regional leadership speakers and brightest minds from the refining and petrochemical industry to discuss and address those issues and challenges facing the whole industry. It is a perfect platform and stage for regional and Indonesian policy makers and regulators, refiners and petrochemical producers, project financing and investors and technology licensors and suppliers to network for business relation.

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  • Environmental Disasters in Indonesia: Oil Spill in Balikpapan Bay

    Environmental Disasters in Indonesia: Oil Spill in Balikpapan Bay

    The severe oil spill in the Balikpapan Bay (East Kalimantan) could lead to sanctions for Indonesia's state-owned oil and gas company Pertamina. Arcandra Tahar, Deputy Minister of Indonesia's Energy and Mineral Resources Ministry, said his ministry is joining forces with the Ministry of Environment and Forestry to investigate the oil spill case. Five fishermen were killed by toxic smoke, while it is feared that severe damage has been done to marine live and the ecosystem in the area.

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  • MIGAS Recommendation for Foreign Workers in Oil & Gas Sector Officially Revoked

    MIGAS Recommendation for Foreign Workers in Oil & Gas Sector Officially Revoked

    On February 8, 2018, the Minister of Energy and Mineral Resources (Ignatius Jonan) officially revoked the obligation for companies in the Oil & Gas sector to obtain a MIGAS Recommendation for its foreign workers. By issuing Regulation number No. 6 of 2018 concerning the Revocation of the Minister of Energy and Mineral Resources Regulation, Minister of Mining and Energy Regulation and Decree of the Minister of Energy and Mineral Resources concerning Oil & Gas Business Activities ("Regulation ESDM 6/2018") the Minister officially revoked the Ministry of Energy and Mineral Resources Regulation No. 31 of 2013 on the Provisions and Procedures for the Use of Foreign Workers and the Development of Indonesian Workers active in the Business Field of Oil & Gas ("Regulation ESDM 31/2013).

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  • Indonesian Oil & Gas Companies in Focus: Elnusa

    Indonesian Oil & Gas Companies in Focus: Elnusa

    Despite sliding net profit in full-year 2017, Indonesian upstream oil and gas company Elnusa saw its shares surge 42.47 percent to IDR 530 per share so far in 2018. The company's net profit fell 25.80 percent year-on-year (y/y) to IDR 246.14 billion (approx. USD $18.1 million) in 2017, while its revenue actually rose 37.56 percent (y/y) to IDR 4.98 trillion (approx. USD $366.2 million).

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  • What Are Indonesia's Top Foreign Exchange Earners?

    What Are Indonesia's Top Foreign Exchange Earners?

    Foreign exchange earnings are important assets for a national economy. Therefore, many nations have recently been taking a much more protectionist approach vis-à-vis trade in an effort to strengthen their trade positions, generate trade surpluses, hence see the inflow of more foreign exchange earnings. Foreign exchange assets support a stable local currency as well as economy.

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  • Oil & Gas News Indonesia: Banyu Urip Field Hit New Peak

    Oil & Gas News Indonesia: Banyu Urip Field Hit New Peak

    Crude oil production at the Banyu Urip field (part of the Cepu Block) in East Java has reached 201,000 barrels of oil per day (bpd). This peak is reached about three years after operations started at the Banyu Urip field. Considering Indonesia set a 825,000 (bpd) oil production target in the state budget, it implies the Banyu Urip field now accounts for almost a quarter of total (targeted) crude oil production across Indonesia.

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  • Upstream Oil & Gas Sector of Indonesia in Alarming State?

    Upstream Oil & Gas Sector of Indonesia in Alarming State?

    With the Indonesian economy estimated to expand at a stable pace of 5.0-6.0 percent year-on-year (y/y) in the years ahead, the country's supply of energy needs to be raised. If not, businesses will increasingly be plagued by blackouts, while the price of energy rises (causing growing production costs). The upstream oil and gas industry - that involves exploration, development and production - therefore has a vital role to play in Indonesia's energy supply and economy.

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