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View all search resultsThe country’s newest sovereign wealth fund will prioritize the use of natural gas to support the country’s downstream industries and as a transition energy on the way toward cleaner power, according to the energy ministry.
The US mining giant says it expects to soon get final export approval for local subsidiary Freeport Indonesia, after a fire last October prompted the company to close operations and file an extension request.
The new ministerial regulation is the latest in a series of back-and-forth policies issued over the past 11 years related to banning raw metal exports as the country, a major coal and raw metals producer, seeks to industrialize its mineral wealth.
The Energy and Mineral Resources Ministry has installed two new officials to oversee Indonesia’s renewable energy and oil and gas industries as the country seeks to simultaneously develop clean energy and ramp up oil production.
Indonesia’s electricity consumption this year is expected to fall by 6.25 percent from last year’s because of the ongoing global health crisis, which has dampened commerce in the country, the Energy and Mineral Resources Ministry has said.
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