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Business 5 years ago
Oil and gas output falls 0.4 percent short of revised-down target in Q3
Lifting reached 1,689 thousand barrels of oil equivalent per day (mboepd) as of Sept. 30, which is 0.4 percent below the revised state budget target of 1,697 mboepd, as oil and gas prices remained weak in the third quarter.
Business 5 years ago
Explainer: Delay, exiting operator, what is happening to Indonesia’s strategic gas projects?
The projects are the Abadi field in gas-rich Masela Block, near Maluku; Indonesia Deepwater Development (IDD) in the Makassar strait, near Sulawesi; Tangguh Train 3 in West Papua; and Jambaran Tiung Biru (JBT) in East Java. The combined value of the four projects is an estimated US$37.21 billion.
Business 5 years ago
Shell begins divestment of Masela block
Shell’s plan to exit the Masela block dealt a major blow to Indonesia’s energy ambitions as the block, which holds 10.7 trillion cubic feet of proven gas reserves, carries the biggest investment value among Indonesia’s four nationally-strategic oil and gas assets.
Business 6 years ago
Indonesia removes price floor for unsubsidized fuels amid global oil price war
The Energy and Mineral Resources Ministry issued on Feb. 28 Ministerial Decree No. 62/2020 that erases a price floor for gasoline and diesel set by a previous decree, providing flexibility for distributors to reduce prices as low as possible.
