The Government is trying to reduce oil and gas import by pushing for the use of palm oil (CPO) as alternative fuel with the B20 fuel police. But per November, 2018, Indonesia continue to experience a trade deficit of US$2.04 billion because of the still significant import of oil and gas.

The movie business in Indonesia is continuing to grow. According to filmindonesia.or.id, by the end of 2017 there were 263 theatres making a total of 1412 screens. Recently, the Boss of Indonesia’s Creative Economy Agency (Bekraf) Triawan Munaf told journalists that the number of screens had gone up to nearly 1700 this year. The portion of Indonesian films to imported films has also grown to 40 percent.

State-owned miner Aneka Tambang (ANTM) is still selecting a partner for developing its nickel and stainless steel project worth US$1 billion in Sorong, West Papua. Three partners from China and Philippine are said to join in the projects.

State-owned PT Pertamina (Persero), through its subsidiary PT Pertamina Power Indonesia (PPI) continues to work towards contributing to the Government’s 35.000 MW electrification target. PPI will begin the construction of the steam-powered plant (PLTGU) Jawa 1 with the capacity of 1,760 megawatt (MW) on Dec. 19, 2018.

Most listed shipping firms have reported better earnings this year. Low and controlled inflation, also a stable rupiah helped the shipping industry. The recent depreciation of local currency against the U.S. dollar, however, are forcing shipping firms to focus on efficiency.

January WTI crude oil on Tuesday dropped 7.30% to U$46.27 a barrel and February Brent crude fell 6.07% amid concern about higher global supply. While Nymex’s crude oil rose 0.17% to US$46.32 per barrel. The EIA forecast that U.S. Jan shale-oil crude production will climb to 8.166 million bpd, up 1.7% m/m from 8.030 million bpd forecast for December.

The future of PT Pertamina’s cooperation with Saudi Arabia’s Saudi Aramco in the Refinery Development Master Plan (RDMP) project, specifically on the Cilacap Refinery, is beginning to show shape. Pertamina will form a joint venture (JV) company with Saudi Aramco in 2019.  

The Ministry of Energy and Mineral Resources (ESDM) has promised certainty on the future of the Corridor Block this month. South Sumatera’s Corridor Block is one the Big Three Blocks (the other two being the Mahakam Block and the Masela Block). ConocoPhillips’ contract on the Corridor Block is to expire in 2023, and so the hope is that the Government will provide clarity on whether or not to extend said contract.

General Directorate of Customs is set to fully implement the electronic data exchange through the internet (PDE Internet) in all offices starting January 1, 2019. This automated service system is to adapt to the current IT development, in line with the industry 4.0...