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Economy 9 months ago
PREMIUM
Pertamina denies claims of Russian crude transshipment
Kilang Pertamina Internasional (KPI), the refinery and petrochemical arm of state-owned oil and gas company Pertamina, has denied reports that Russian oil products are being transshipped at Indonesia’s Karimun terminal in the Riau Islands.
Markets 10 months ago
OPEC+ agrees another accelerated oil output hike for June
OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.
Opinion 11 months ago
PREMIUM
Analysis: Son of oil tycoon arrested; is his father next
Public trust in the government continues to diminish after a Rp 193.7 trillion (US$11 billion) graft case involving subsidiaries of state-owned oil and gas holding company Pertamina sparked national outcry. Among the nine suspects in the case is Kerry Adrianto Riza, the 38-year-old son of politically connected oil tycoon Muhammad Riza Chalid.
Opinion 1 year ago
PREMIUM
Analysis: Targeting oil ‘mafia’: A gimmick or genuine fight against corruption?
President Prabowo Subianto has vowed to crack down on mafia-like practices in the oil and gas industry, after an ongoing probe named nine executives as suspects in a case on fraudulent crude oil and fuel trading, estimated to have incurred state losses of Rp 193.7 trillion (US$12 billion) between 2018 and 2023. The outcome of this case will be a test of Prabowo’s commitment to fighting corruption in the energy sector, especially as to whether the investigation extends to high-profile figures who might have profited from the illegal activity.
Markets 1 year ago
PREMIUM
Indonesia to build oil storage facility near Singapore
The energy minister says the government is looking at building an oil storage facility on an island near Singapore, from which the country imports 60 percent of its fuel, to shore up strategic reserves amid declining output.
Companies 1 year ago
IPOC 2024: PHC Positions DRC as The Next Frontier for Sustainable Palm Oil Industry
The Democratic Republic of Congo (DRC) has been participated in the 20th Indonesian Palm Oil Conference (IPOC 2024) in Bali on Friday. Monique Gieskes, CEO of Plantations et Huileries du Congo (PHC), the country's leading palm oil company, invited participants to consider the DRC as a land of exceptional opportunity for the palm oil industry and as an investment destination of choice.
