President Joko "Jokowi" Widodo has criticized state-owned energy company Pertamina for a lack of exploration. In its decades of existence, Pertamina had never been involved in exploring large oil blocks, the President said. "From the information I have, since the 1970s to date, [Pertamina] has never conducted any exploration on a large scale [...] What's up?" Jokowi said in his speech at the opening of the 42nd Indonesian Petroleum Association Convention and Exhibition in Jakarta on Wednesday.
The Fourth Industrial Revolution (Industry 4.0) and its advancements in technology with Industrial Internet of Things (IIoT) is enabling energy companies to run leaner, more efficient, sustainable and safer operations. It is critical for all energy and transportation stakeholders to be more digitized, flexible and dynamic to address the challenges of changing business models, ageing infrastructure, climate concerns, and the lack of global access to clean, reliable energy in many remote communities.
Indonesia's green ploy is a red flag. Freeport-McMoRan says "shocking" new environmental demands will further delay an already tricky deal with Jakarta over ownership of its Grasberg copper mine. Cleaning up is a good thing, but the last-minute changes smack of strong-arm tactics.
Indonesia is targeting annual production of 481 million tons of coal this year and next, a mining ministry official said on Monday, as producers of the fuel are struggling to get new heavy equipment and parts. That's up around 4 percent from the 461 million tons Indonesia produced in 2017. However, Indonesia's National Development Planning Board (BAPPENAS) has pushed for coal output to be capped at 400 million tons in 2019,
The Energy and Mineral Resources Ministry has revised its investment target this year by 27 percent to only US$37.2 billion, with the biggest cut of more than 50 percent coming from the electricity sector. The ministry initially aimed to realize investments worth $50.96 billion this year, of which $16.76 billion in the oil and gas - will remain unchanged, $7.31 billion in the mining sector reduced to $6.26 billion, $2.01 billion in the renewable energy sector, $24.88 billion was expected to be in the electricity sector reduced to $12.2 billion.
The most drawn-out deal in the global mining industry looks set for another round. Freeport-McMoRan Inc. shares have fallen about 21 percent since they opened Monday, headed for their worst weekly performance in almost three years. The reason is a further wrinkle in the Indonesian government’s attempt to lift its stake in the Grasberg mine on the island of New Guinea, one of the world’s biggest sources of copper and gold and among the most isolated and challenging pits on the planet.
Freeport-McMoRan Inc. says it would be impossible to keep mining Grasberg, its flagship copper-and-gold asset in Indonesia, if it were to adopt new environmental standards unveiled by the state this month. Environmental claims ‘shocking and disappointing,’ CEO says.
Thousands of Acehnese people whose livelihoods rely on illegal mining were shocked by an explosion at an oil well in Peureulak, East Aceh, on Wednesday, that claimed the lives of 22 people and badly injured 37 others.
Adaro unit Adaro MetCoal Companies (AMC) has 54 million tons of metallurgical coal reserves at one of its seven mine concessions in East and Central Kalimantan provinces, AMC Director Priyadi told reporters at a company event. According to a statement provided by Adaro, AMC has 1.35 billion tons of coking coal resources "with very low ash and sulphur content".
Indonesia’s oil lifting, the colloquial term for ready-to-sell production, fell by 6.6 percent to 750,600 barrels of oil per day (bopd) throughout the first quarter because of a natural decline of reserves at various fields across the country.