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CNN —At least 37 people have been killed, and more than a dozen injured on the Indonesian island of Sumatra after heavy rains triggered flash flooding and a cold lava flow from an active volcano, search and rescue officials said on Sunday. Cold lava, also known as lahar, is a mixture of volcanic debris such as ash, sand and pebbles that flows down a volcano’s slopes during wet weather. Images shared by Indonesia’s disaster response agency showed thick mud and ash partially covering roads and mountainside villages near the foot of Mount Marapi, an active volcano in western Sumatra. Adi Prima/Anadolu/Getty ImagesThe 2,891-meter-high (9,500 feet) Mount Marapi is among the most active volcanoes in Indonesia, which lies on the Pacific Ring of Fire with 127 active volcanos – more than anywhere else in the world. It has erupted 11 times during the early 21st century, with it deadliest single event having killed 60 people in 1979.
Persons: Marapi, Abdul Muhari, Rezan Soleh, Adi Prima Organizations: CNN, Getty, Anadolu Locations: Indonesian, Sumatra, AFP, Lima Kaum, West, Datar District, Indonesia
Reuters —The Indonesian government will permanently relocate almost 10,000 residents after a series of explosive eruptions of the Ruang volcano has raised concerns about the dangers of residing on the island in future, a minister said on Friday. “As instructed by President Joko Widodo, we will build houses that meet disaster-standards,” he said, adding that the site was located about 200 km (125 miles) from Ruang island. A view of Mount Ruang volcano on Wednesday, the day after it erupted three times, forcing authorities to issue evacuation orders for 12,000 locals. The volcano had not erupted on Friday but Manado’s Sam Ratulangi Airport remained closed until the evening due to the spread of volcanic ash. Indonesia straddles the so-called “Pacific Ring of Fire,” an area of high seismic activity where multiple tectonic plates meet.
Persons: Muhadjir Effendy, , Joko Widodo, , Ronny Adolof, Ruang, Sam Ratulangi Organizations: Reuters, Human Development, Getty Locations: Indonesian, North Sulawesi, Manado, Ruang, AFP, Manado . Roads, Tagulandang, Indonesia
Indonesia plans to relocate its capital from Jakarta to the new city of Nusantara. The new city will cost $35 billion and won't be finished until 2045. The climate crisis has prompted the move, with Jakarta at risk of sinking due to rising sea levels. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The Indonesian government plans to move the capital to Nusantara, a new city being built on the eastern coast of Borneo, about 870 miles north of Jakarta.
Organizations: Service, Business Locations: Indonesia, Jakarta, Nusantara, Java, Indonesian, Borneo
Copper prices are in the midst of a sharp rally, and there are a few stocks investors could check out to play the trend, according to Strategas. In a Thursday report, he called out the "explosive move from copper" and identified stocks with exposure to the metal that are breaking out of their multi-year ranges. The average price target suggests downside of about 3% from current levels. The average price target suggests 29% downside from current levels. He also raised his price target to $130 from $91, implying that shares could rally about 17% from their Friday close.
Persons: Chris Verrone, Bernstein, Bob Brackett, Brackett, Jefferies, Alejandro Anibal Demichelis, Demichelis Organizations: Copper, Southern Locations: U.S, Freeport, McMoRan, McRoRan, Indonesia, Mexico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndonesia's new government should aim to increase its tax revenue: Chatib BasriChatib Basri of Bank Mandiri says the solution to expanding the Indonesian government budget lies not with increasing the tax rate but with administrative reform in the tax office.
Persons: Mandiri
CNN —Militant rebels in Indonesia’s restive West Papua are urging their most feared comrade to release a New Zealand pilot held hostage for a year. Mehrtens’ captors initially threatened to kill him unless New Zealand agreed to pressure Indonesia into allowing West Papua to secede from Indonesia, a seemingly impossible demand. West Papua separatist fighters release images of their hostage soon after his capture in February 2023. West Papua National Liberation ArmyFailed rescue effortsGrainy proof of life videos sent by the rebels between February and November 2023 show Mehrtens growing thinner and more unkempt. “The Indonesian response is dictated by the Indonesian military and their view is that they will hunt down this group, kill the leaders and release Mehrtens,” Kingsbury said.
Persons: Eganius Koyega, Phillip Mehrtens, Mehrtens ’, Mehrtens, Koyega, ” Koyega, ” TPNPB, Terryanus Satto, aren’t, hasn’t, Damien Kingsbury, , Winston Peters, Christmas Phillip, ” Peters, ” Kingsbury, , Cammi Webb, Gannon, ’ ”, Webb, ” Webb, TPNB, Andreas Harsono, Prabowo Subianto, “ Prabowo, ” Harsono Organizations: CNN — Militant, New, Koyega, West Papuan National Liberation Army, Free Papua Movement, West Papua National Liberation Army, Indonesian Army, New Zealand, New Zealand Foreign Affairs, New Zealand Government, CNN, Australia’s University of Wollongong, Indonesian, Human Rights Watch, Rights, West Locations: Indonesia’s restive West Papua, Zealand, Nduga, New Zealand, Indonesia, West Papua, Indonesian, Papuan, West, New, Australia, Jakarta, , ” West Papua, Papua
JAKARTA (Reuters) - New Zealand has called for the immediate release of Kiwi pilot Phillip Mehrtens, a year after he was taken hostage by rebels in Indonesia's Papua region, its foreign minister said on Monday. His continued detention serves the interests of no one," New Zealand Foreign Minister Winston Peters said in a statement. The New Zealand foreign minister said a range of government agencies continued to work extensively with their Indonesian counterparts to secure Mehrtens' release. The separatist group has released video of Mehrtens several times, asking the United Nations to mediate talks towards Papua's independence. In one of the videos, he was seen holding the banned Morning Star flag and surrounded by Papuan fighters.
Persons: Phillip Mehrtens, Egianus Kogoya, Mehrtens, Phillip, Winston Peters, Sebby Sambom, Ananda Teresia, Kate Lamb, Jamie Freed Organizations: Kiwi, West Papua National Liberation Army, New Zealand Foreign, United Nations, New Zealand, United, Star Locations: JAKARTA, New Zealand, Indonesia's Papua, Nduga, Papua, Papua New Guinea, United Nations
Suryana has spent more than three decades living in the shadow of the power plant in northern Java, just 60 miles from Jakarta, Indonesia’s most populous city. Emissions from burning coal, which is highly polluting but relatively cheap, contribute up to a third of Indonesia’s air pollution according to Siti Nurbaya, Indonesia’s Environmental and Forestry Minster. The Indonesian government has called on residents to use public transportation and has given regulation and financial incentives to residents who want to shift from using gas or diesel-fueled vehicles to electric vehicles. The government is pushing to have more than 530,000 electric vehicles on the road in Indonesia by 2030. Because industry is contributing 30% to 40% of the air pollution in Jakarta, in addition to emissions from transportation,” Syuhada said.
Persons: Suryana, “ We’ve, , Ginanjar Syuhada, , Siti Nurzanah, ” Nurzanah, Syuhada, , Siti Nurbaya, Budi Karya, ” Syuhada Organizations: , United Nations, Associated Press, World Health Organization, Air, Vital, Indonesia’s Ministry of Health, WHO, Jakarta Health Agency, Jakarta's Persahabatan, Persahabatan Hospital, Forestry, Transportation Locations: JAKARTA, Indonesia, Java, Jakarta, Indonesia’s, United, Dubai, Swiss, Indonesian, New York
He was the last Sumatran rhino in the world to be repatriated to Indonesia, meaning that the entire population of Sumatran rhinos is now in Indonesia. “This birth is also the birth of the second Sumatran rhino in 2023. The IUCN Red List of Threatened Species describes the Sumatran rhinos as critically endangered: the population is declining and only about 30 mature animals remain. In September, Ratu, a 23-year-old female rhino, gave birth to a female rhino at the sanctuary in Lampung. Sumatran rhinos typically have a life expectancy of 35 to 40 years, according to the WWF conservation group.
Persons: Delilah, Harapan, Siti Nurbaya Bakar, Ratu, Andalas Organizations: Cincinnati Zoo, Forestry, Indonesia ’, Forestry Ministry, IUCN, WWF Locations: JAKARTA, Indonesia, Indonesia’s, Sumatra, Lampung, China, Asia, Indonesian Government, Indonesian
[1/2] Nobel Peace Prize laureate Martti Ahtisaari poses with his medal and diploma during the Nobel Peace Prize award ceremony in Oslo December 10, 2008. REUTERS/Ints Kalnins/File Photo Acquire Licensing RightsHELSINKI, Oct 16 (Reuters) - Nobel Peace laureate Martti Ahtisaari, who served as Finland's 10th president between 1994 and 2000, died on Monday at the age of 86, the Finnish president's office said in a statement. Ahtisaari was celebrated around the world for brokering peace in conflict zones in Kosovo, Indonesia and Northern Ireland. All conflicts can be settled, and there are no excuses for allowing them to become eternal," Ahtisaari said when he accepted the Nobel award in 2008. Several months afterwards, the Nobel committee gave him the peace prize, citing work on multiple continents over more than three decades.
Persons: Martti Ahtisaari, Ints, Ahtisaari, Mara, Martti, Finland's, Slobodan Milosevic, Eeva, Marko, Anne Kauranen, Ritsuko Ando, Sonya Hepinstall, Alex Richardson, Nick Macfie Organizations: REUTERS, Rights, Soviet, Social Democrats, Finland's European Union, NATO, Finland's Ministry, Foreign Affairs, EU, Yugoslav, Crisis Management, Free Aceh Movement, Nokia, Thomson Locations: Oslo, Rights HELSINKI, Finnish, Kosovo, Indonesia, Northern Ireland, Finland, Soviet Union, Ukraine, Viipuri, Russia, Pakistan, Tanzania, Namibia, South Africa, Aceh, Balkans
SYDNEY, Australia (AP) — Soccer officials in Australia and Indonesia have floated the idea of teaming up in a bid to rival Saudi Arabia for the hosting rights to the men’s World Cup in 2034. The Sydney Morning Herald reported comments Wednesday from Indonesia soccer federation president Erick Thohir about ongoing talks that could also include Malaysia and Singapore in a possible bid. Political Cartoons View All 1206 ImagesThohir is an Indonesian government minister who has ties to FIFA president Gianni Infantino. Any opponent to Saudi Arabia in the 2034 World Cup contest has to express official interest by Oct. 31. FIFA has said it will decide which months to play the 2034 World Cup after its members confirm the host at a meeting likely to be held late next year.
Persons: Erick Thohir, Israel, Gianni Infantino, Sheikh Salman bin Ebrahim Al Khalifa, ___ Organizations: — Soccer, Sydney Morning Herald, Indonesia, FIFA, Israel, International Olympic Committee, Inter Milan, Italian soccer, Asian Football Confederation, AFC Locations: SYDNEY, Australia, Indonesia, Saudi Arabia, Malaysia, Singapore, Argentina, Indonesian, Italian, Asia, Oceania, United States, Canada, Mexico, Europe, Africa, South America, Saudi Arabian, Australian
What's causing the chronic haze across Southeast Asia?
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +4 min
Despite pleas by Malaysia this week not to "normalise" the haze, Indonesia has flatly denied any responsibility. Global consumption of palm oil, used in a wide range of products such as cookies, candles and as a cooking oil, is growing rapidly. Palm oil is the world's most used edible oil, accounting for 60% of global vegetable oil exports. For Indonesia, the world's biggest palm oil producer, the product is one of the biggest export earners after coal. Export earnings from palm oil and its derivatives stood at $39.28 billion in 2022, according to the Indonesian Palm Oil Association.
Persons: Siti Nurbaya Bakar, Ananda Teresia, Kate Lamb, Bernadette Christina, Naveen Thukral Organizations: of Southeast Asian Nations, Control, ACC, El, Greenpeace, Indonesian Palm Oil Association, Thomson Locations: JAKARTA, Southeast Asia, Indonesian, WHAT'S, Malaysia, Indonesia, Borneo, Singapore, Greenpeace Indonesia
Despite pleas by Malaysia this week not to "normalise" the haze, Indonesia has flatly denied any responsibility. Global consumption of palm oil, used in a wide range of products such as cookies, candles and as a cooking oil, is growing rapidly. Palm oil is the world's most used edible oil, accounting for 60% of global vegetable oil exports. For Indonesia, the world's biggest palm oil producer, the product is one of the biggest export earners after coal. Export earnings from palm oil and its derivatives stood at $39.28 billion in 2022, according to the Indonesian Palm Oil Association.
Persons: Siti Nurbaya Bakar, Ananda Teresia, Kate Lamb, Bernadette Christina, Naveen Thukral Organizations: of Southeast Asian Nations, Control, ACC, El, Greenpeace, Indonesian Palm Oil Association, Thomson Locations: JAKARTA, Southeast Asia, Indonesian, WHAT'S, Malaysia, Indonesia, Borneo, Singapore, Greenpeace Indonesia
Forest and peat fires are an annual problem in Indonesia that strains relations with neighboring countries. In recent years, smoke from the fires has blanketed parts of Indonesia, Singapore, Malaysia and southern Thailand. Hundreds of forest fires in South Kalimantan province in Borneo island made the smoke haze even more widespread, especially during the last week. The local government has also called the students to do online learning because the air quality is unhealthy. “We are still working to handle the forest and land fires in Borneo and Sumatra islands as well as possible.
Persons: Siti Nurbaya Bakar, shouldn't, Bakar Organizations: , Indonesian, Forestry, Associated Press, Indonesia’s Meteorology, Agency Locations: JAKARTA, Indonesia, — Indonesia, Sumatra, Borneo, Malaysia, Singapore, Thailand, Indonesian, Malaysia’s, Kuala Lumpur, Kuching, IQAir, Swiss, South Sumatra, South Kalimantan, Central Kalimantan
By Danial AzharKUALA LUMPUR (Reuters) - Malaysia called on neighbour Indonesia and a grouping of Southeast Asian nations to take action as air quality worsens across the country due to fires in Indonesia, its environment minister told Reuters on Thursday. Air quality has hit unhealthy levels in several parts of Malaysia in recent days, with Kuala Lumpur blaming fires in Indonesia -- though Jakarta has denied detecting any smoke drifting over its borders into Malaysia. Fires that sent haze billowing across the region in 2015 and 2019 burned millions of hectares of land and produced record-breaking emissions, according to scientists. He called for joint action by the Association of Southeast Asian Nations (ASEAN) either through legislation or agreement to prevent the yearly haze. He said Malaysia was still "seriously" considering a law similar to Singapore that holds companies liable for air pollution.
Persons: Nik Nazmi Nik Ahmad, polluters, Danial Azhar, Kanupriya Kapoor Organizations: Azhar KUALA LUMPUR, Reuters, Association of Southeast Asian Nations, ASEAN Locations: Azhar KUALA, Malaysia, Indonesia, Kuala Lumpur, Jakarta, Indonesian, Malaysian, Singapore
KUALA LUMPUR, Oct 5 (Reuters) - Malaysia called on neighbour Indonesia and a grouping of Southeast Asian nations to take action as air quality worsens across the country due to fires in Indonesia, its environment minister told Reuters on Thursday. Air quality has hit unhealthy levels in several parts of Malaysia in recent days, with Kuala Lumpur blaming fires in Indonesia -- though Jakarta has denied detecting any smoke drifting over its borders into Malaysia. Fires that sent haze billowing across the region in 2015 and 2019 burned millions of hectares of land and produced record-breaking emissions, according to scientists. He called for joint action by the Association of Southeast Asian Nations (ASEAN) either through legislation or agreement to prevent the yearly haze. He said Malaysia was still "seriously" considering a law similar to Singapore that holds companies liable for air pollution.
Persons: Nik Nazmi Nik Ahmad, polluters, Danial Azhar, Kanupriya Kapoor Organizations: Association of Southeast Asian Nations, ASEAN, Thomson Locations: KUALA LUMPUR, Malaysia, Indonesia, Kuala Lumpur, Jakarta, Indonesian, Malaysian, Singapore
JAKARTA, Indonesia (AP) — TikTok said it will halt its online retail operation in Indonesia on Wednesday to comply with the country’s decision to ban e-commerce transactions on social media platforms — a big blow to the video platform's fastest-growing market. The Chinese-owned video sharing app said in a statement it will stop facilitating e-commerce sales in TikTok Shop Indonesia by 5 p.m. Wednesday. “Our priority is to remain compliant with local laws and regulations,” said the statement released Tuesday on its website. Political Cartoons View All 1196 ImagesA week before the ban was announced, Southeast Asia’s largest wholesale market, Tanah Abang, came under inspection. But the company said it will respect the regulations and “will take a constructive path forward."
Persons: — TikTok, , Zulkifli Hasan, Sellers, TikTok, China’s ByteDance Organizations: Indonesia’s Trade, Trade Ministry, Cooperatives, Enterprises, TikTok Locations: JAKARTA, Indonesia, Indonesian, Shop, Abang, Jakarta, TikTok Indonesia, Asia, Beijing, United States, Britain, New Zealand
Endangered Sumatran rhino born in Indonesia
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +1 min
JAKARTA, Oct 2 (Reuters) - An endangered Sumatran rhinoceros, the smallest and hairiest of the4 five extant rhino species, was born in Indonesia last week in a conservation area, the government said on Monday. Weighing about 27 kilogram (59.52 lb), the yet-to-be named female calf, was born on Saturday at the Sumatran Rhino Sanctuary (SRS) facility in Way Kambas National Park, Lampung province in the tropical Southeast Asian country. On the next day, she began to walk around the jungle, the environment ministry said in a statement. "This is a happy news, not only for Indonesia but for the world," environment minister Siti Nurbaya said in the statement. There were just 80 Sumatran rhinos left in the world, based on a 2019 assessment of threatened species by the Indonesian government.
Persons: Andalas, Delilah, Siti Nurbaya, Ananda Teresia, Bernadette Christina, Simon Cameron, Moore Organizations: Rhino, Cincinnati Zoo, Thomson Locations: JAKARTA, Indonesia, Lampung, United States, Andatu, Indonesian
CNN —A plan to build a multi-billion dollar Chinese glass factory in Indonesia’s Riau Islands Archipelago has sparked fierce protests from indigenous islanders who are opposed to their villages being torn down. Riot police were deployed to the scene and fired tear gas and water cannons at protesters, CNN affiliate CNN Indonesia reported. On Rempang island, chaos broke out on September 7 when local authorities and developers showed up to conduct land surveys and take measurements. BP BatamIn a bid to soothe tensions, Indonesian government officials have promised improved relocation packages for residents on Rempang. Relocation and compensation only have economic value and cannot replace the villagers’ collective memory and identity as local indigenous people,” said Arifin Jaynal Ylbhi, spokesperson for the Indonesian Legal Aid Foundation (YLBHI).
Persons: Joko Widodo, Xi Jinping, , , Muhammad Rudi, Investment Bahlil Lahadalia, Arifin Jaynal Ylbhi, Hong Kong, Ansar Ahmad, Didit Wicaksono, Widodo, Nur, Sophie Grig, Bahlil Organizations: CNN, Badan, BP, Riot, CNN Indonesia, Government, Investment, Indonesian Legal Aid Foundation, Ford, General Motors, Volkswagen, Greenpeace, Veteran National Development University of Jakarta, Survival, CNN Indonesia . Investment Locations: Riau, Indonesia, Southeast, Batam, Singapore, Rempang, Hong, Malay, ” Riau, Greenpeace Indonesia, West Papua, Jakarta, CNN Indonesia
The Punan people of the island of Borneo were once rumored to have tails, so elusive did they seem to their neighbors in the 19th century. Over decades, the Indonesian government stripped the Punan of their ancestral lands and encouraged them, sometimes forcibly, to settle in ready-built villages. By the 1990s, anthropologists believed that the group’s traditional hunter-gatherer lifestyle had vanished. In 2002, a census of the Punan in eastern Borneo focused only on the villages, because so few nomads were thought to exist. But with funding from the National Science Foundation, the scientists made contact with the nomadic group in 2018, and began collecting data with the aim of ensuring their health and welfare.
Persons: Stephen Lansing, Pradiptajati Organizations: Santa Fe Institute, Riady, for Nanotechnology, National Science Foundation Locations: Borneo, Indonesian, Tangerang, Indonesia
Indonesia offers 'golden visa' to entice foreign investors
  + stars: | 2023-09-03 | by ( ) www.reuters.com   time to read: +1 min
“The golden visa is granting a residence permit for an extended period of five to 10 years," director general of immigration, Silmy Karim said in the statement. The five-year visa requires individual investors to set up a company worth $2.5 million, while for the 10 years visa, a $5 million investment is required. Other countries around the world including the U.S., Ireland, New Zealand and Spain have introduced similar golden visas for investors, seeking to attract capital and entrepreneurial residents. Different provisions apply to individual foreign investors who do not want to establish a company in the Southeast Asian country. “Once they arrive in Indonesia, golden visa holders no longer need to apply for permit,” Silmy Karim said.
Persons: Silmy Karim, ” Silmy Karim, Dewi Kurniawati, Lincoln Organizations: REUTERS, Rights, Thomson Locations: Jakarta, Rights JAKARTA, Indonesia, U.S, Ireland, New Zealand, Spain
Indonesia imported 53,864 metric tons of nickel ore in the first half of 2023, up from 22,503 tons for all of 2022, Indonesian trade data showed. But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed. "But the ore is cheaper by comparison with domestic ore currently and so this will offset some of the rising costs," Mitchell said. The Philippines mined 360,000 tons of nickel in ore in 2022, or 11% of global supplies, according to INSG. Philippines 1.3% grade ore landed at China's Lianyun port surged 20.6% in the past month to $41 a ton, the highest since March, Mysteel data showed.
Persons: Antara, Aneka, Tsingshan, Wood Mackenzie, Andrew Mitchell, Mitchell, Mai Nguyen, Siyi Liu, Fransiska, Enrico dela Cruz, Dominique Patton, Kim Coghill Organizations: PT Vale Indonesia, REUTERS Acquire, Nickel, Tsingshan Group, Study, Imports, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Philippines, Jakarta, Morowali, China, China's, Hanoi, Beijing, Manila
Adek Berry | Afp | Getty ImagesIndonesia has ambitious plans to relocate its capital from Jakarta to Nusantara in East Kalimantan. Nusantara National Capital Authority, a government agency charged with planning and constructing the new capital, did not immediately respond to CNBC's request for comment. The new Presidential Palace under construction at the country's new capital Nusantara. Bloomberg | Bloomberg | Getty ImagesA lack of demand for service-led jobs is another challenge Archer predicted. Bloomberg | Bloomberg | Getty Images
Persons: Adek Berry, Joko Widodo's, Melinda Martinus, Martinus, Ju Ye Lee, Bagus Saragih, Agung Wicaksono, it's, Wicaksono, Bruno Lanvin, Joko Widodo, Diane Archer, Archer, Lanvin, Maybank's Lee Organizations: Nusantara, Afp, Getty, Indonesia, Cultural Affairs, Yusof, CNBC, Nusantara National Capital Authority, country's Ministry, Public, Agung Wicaksono Nusantara National Capital Authority, Maybank Investment Banking Group, Smart, IMD Business School, Bloomberg, Ciputra, Stockholm Environment Institute, Nusantara . Bloomberg Locations: Jakarta, Nusantara, East Kalimantan, Indonesian, Indonesia, Singapore, Agung Wicaksono, Asia, Pacific, Nusantara ., Stockholm, Diane Archer Stockholm, Kalimantan
JAKARTA, Aug 24 (Reuters) - Indonesia's talks with international partners on setting up a $20 billion fund for the country's transition from coal to cleaner energy have taken longer than anticipated and are complicated by rising borrowing costs, its finance minister said on Thursday. It was based on a similar $8.5 billion initiative in 2021 to help South Africa more quickly decarbonise its power sector. Another challenge is it will take time to hold public consultations with communities that could be affected by a project, such as the construction of a renewable power plant, the minister said. Indonesia has been pushing for coal power plant retirement financing to be seen as "acceptable" among global lenders and brought this up at a meeting of G20 finance ministers in July. The Association of Southeast Asian Nations (ASEAN) has included coal power plant retirement in its green taxonomy - a framework defining what investment is considered environmentally friendly.
Persons: Sri Mulyani Indrawati, Sri Mulyani, Gayatri Suroyo, Stefanno Sulaiman, Susan Fenton Organizations: Reuters, International Partners, World Bank, Asian Development Bank, The Association of Southeast Asian Nations, Thomson Locations: JAKARTA, United States, Japan, Indonesia, South Africa, Jakarta
Key hurdles for the two projects include the country's caps on domestic gas prices, limits on gas exports and the high costs for carbon capture and storage - required for new gas projects to help fight global warming. Last month, Shell (SHEL.L) said it would sell its holding in the Masela project to Indonesia's Pertamina and Malaysia's Petronas, while Chevron (CVX.N) agreed to sell its stake in the IDD project to Italy's Eni (ENI.MI). Reuters GraphicsNEW TERMS NEEDEDOnce one of the world's top five liquefied natural gas (LNG) exporters, Indonesia's LNG exports have halved in the past decade, Kpler data showed. The country has not approved a major oil or gas project since 2016 - the expansion of BP's (BP.L) Tangguh LNG plant. The current formula for splitting revenue between the government and investors in gas projects sets the base rate at 48% for companies.
Persons: magnifier, Dado Ruvic, Benny Lubiantara, Andrew Harwood, Wood Mackenzie, SKK Migas, Benny, Prateek Pandey, Takayuki Ueda, Naing, Inpex's Ueda, Fransiska Nangoy, Bernadette Christina Munthe, Emily Chow, Yuka Obayashi, Florence Tan, Sonali Paul Organizations: REUTERS, Indonesia, Shell, Chevron, Indonesia Deepwater Development, Petronas, Eni, Essential Services, Reuters, Indonesia Petroleum Association, Rystad Energy, BMI Research, Fitch Group, Tcf, Thomson Locations: Indonesia, JAKARTA, Jakarta, Chevron, Tokyo, Masela, Singapore
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