A car belonging to mining company PT Freeport Indonesia employee Moren Francis Ras was shot up by an unidentified shooter at his house in the Hidden Valley housing complex at Mile 66 in Tembagapura, Mimika, in Papua on Friday morning, April 27th, police have reported. “The shooting damaged the car, but there were no injuries,” Mimika Police chief Adj. Sr. Comr. Agung Marlianto Basuki told The Jakarta Post.
Indonesian President Joko Widodo on Wednesday slammed state-owned oil firm Pertamina, saying it hadn't invested enough in exploration, while blasting red tape hobbling the industry and urging investors to report problematic rules to him directly.
Pertamina has signed agreements to take over the rights to eight expiring oil field blocks previously held by Chevron , CNOOC and Inpex, among others, an energy ministry official said on Friday. Pertamina also committed to spending $556.5 million on developing the fields over the next three years, including for drilling programs, exploration and workovers.
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.