The Ministry of Energy and Mineral Resources (ESDM) asked PT Pertamina (Persero) to expedite the takeover of the Rokan Block management from PT Chevron Pacific Indonesia. It’s a serious matter given that the President has made it clear that Indonesia must do better with its oil production. The hope is that Pertamina will be able to manage so that it could begin drilling in Rokan in the third quarter of 2020. 

President Joko ‘Jokowi’ Widodo urged ministers to immediately cut natural gas price for domestic industries. While this might be a boost to manufacturers in the short-term, the country is confronting with a medium-long term challenge due to lack of development in the upstream sector of natural gas exploration and production.

After the acquisition of 51 percent of PT Freeport Indonesia, the State-Owned Enterprises (BUMN) Holding entity, Mining Industry Indonesia (MIND ID), is continuing with its state mission and business expansion. In 2020, MIND ID will finalize the acquisition of 20 percent of PT Vale Indonesia.

Indonesian economy might be hurt by weak price of thermal coal, the largest export commodity, this year because the commodity is now traded 30% below the same period last year. Higher price of crude palm oil (CPO), the second largest export commodity, however, might partly offset the downfall in coal.

State-owned mining company PT Aneka Tambang Tbk has held its General Meeting of Shareholders on Dec. 19, 2019. One of the decisions made in the said meeting was that the subsidiary of PT Indonesia Asahan Alumina (INALUM) would replace its President Director Arie Prabowo Ariotedjo with Dana Amin.

In 2014, as soon as he was elected President, Joko “Jokowi” Widodo ordered state-owned PT Pertamina to build refineries. The President recently noted the lack of progress on this front. Bear in mind that the Government also set in motion the revitalization of 4 refineries (Cilacap, Balongan, Tuban, and Duri). Out of the four mentioned, the Tuban project is the only one with a partner (Russian Rosneft). The Balongan project is still on the land procurement stage, and the Cilacap project is in limbo following Saudi Aramco’s exit. 

When delivering his statement at the opening of the Mid-term National Development Planning Meeting (RPJMN) 2020-2024 President Joko “Jokowi” Widodo mentioned oil & gas imports that have been pestering Indonesia’s trade balance. Jokowi said that he knew who wanted to keep on importing gas. 

In just two days after he was appointed Chair of the Investment Coordinating Board (BKPM), Bahlil Lahadalia told the press (Oct. 28) that he was going to move up the nickel ore export ban to January 2020. In matters of weeks, the European Union (EU) responded with a complaint against Indonesia at the World Trade Organization (WTO). Undeterred, Indonesia has returned with a countersuit. 

Share price of nickel miner Ifishdeco (IFSH) has surged 46.6% from its IPO price to Rp645 this morning. At this price, Ifishdeco has market capitalization of Rp1.37 trillion. Will Ifishdeco be as valuable as ASX-listed Nickel Mines Ltd, which indirectly operates four RKEF smelters in Morowali Industrial Park?