Indonesia targets B50 biodiesel by the second half of 2026
The mining minister announced on Thursday that Indonesia would implement its B50 Biodiesel Programme in the second half 2026. He added that the plan may eliminate the need for the country to import diesel in the next few years. The largest palm oil producer in the world has launched a biofuel program that blends palm oils with diesel. This reduces the reliance on imported fuel. The program is currently in the B40 phase, which uses 40% palm oil fuel. It was not clear when the B50 program would be implemented. He said that the country expects a drop in diesel fuel imports of nearly 40% from 2024 to 4.9 miliolitres.
Indonesia regrets EU's decision to appeal WTO biodiesel ruling
The Indonesian Trade Ministry on Thursday called on the European Union (EU) to accept the World Trade Organization panel's ruling on removing countervailing duty on Indonesian imports of biodiesel and regretted that the bloc had appealed the WTO decision. Last week, the European Union announced that it would appeal the WTO panel's ruling, which supported Jakarta's claim, that the duties levied on EU palm oil products as the EU is the third largest destination of Indonesian palm oils products violated the rules of the trade body. The EU's decision not to appeal the Dispute Panel DS618 ruling is irrelevant, Trade Minister Budi Santitoso stated in a press release.
Sources say that Sriwijaya Capital raised over $200 million in its debut fund and is aiming for a $300 million cap.
Sriwijaya Capital is a Southeast Asia focused private equity firm that has raised over $200 million in its debut fund. It aims to reach a $300,000,000 hard cap in six to twelve months, according to two sources with knowledge of this matter. Sources said that the Singapore-based and Jakarta-based company plans to acquire strategic minority or majorities stakes in Southeast Asian businesses with regional expansion potential. This includes companies facing succession issues or family-run business seeking to become professional. They said that the first deal would likely involve an Indonesian firm in the next few months. As the matter is confidential, we have not named the person.
EnQuest UK sticks to production forecast despite first-half losses
EnQuest, an oil company based in the North Sea, stuck to its production forecast for the full year on Wednesday. It was encouraged by its operational strengths despite reporting that it had a loss after tax of $1.25 million due to lower production and higher taxes. As with its peers, the company is struggling to deal with Britain's extended tax on windfall profits for oil and gas producers. The tax rate has been raised to 78% - one of the highest rates in the world - which has attracted criticism from many industry players. Amjad Bseisu, CEO of EnQuest, said in a press release that the company is committed to continuing investment in its UK business.
Russell: The Big Three Asian thermal coal producers look healthy while others are pale
Asia dominates global thermal coal markets, but the future looks increasingly divided between the robust domestic markets of the three heavyweights China, India and Indonesia as well as a slowly fading seaborne industry. In recent years, the three countries have increased their coal production rapidly to meet the rising demand for energy. Outside of these three nations, Australia, Russia, United States, and South Africa are the main exporters of seaborne products. While the domestic thermal coal market in China, India, and Indonesia will likely grow in the coming decades, this cannot be said of the seaborne market.
Russell: The Big Three Asian thermal coal producers look healthy while others are pale
Asia dominates global thermal coal markets, but the future looks increasingly divided between the robust domestic markets of the three heavyweights China, India and Indonesia as well as a slowly fading seaborne industry. In recent years, the three countries have increased their coal production rapidly to meet the rising demand for energy. Outside of these three nations, Australia, Russia, United States, and South Africa are the main exporters of seaborne products. While the domestic thermal coal market in China, India, and Indonesia will likely grow in the coming decades, this cannot be said of the seaborne market.
Thailand sets record for annual drop in power output and LNG imports
Thailand's electricity production is expected to drop by a record amount this year due to a mild winter and a slowed economy, according government data. This will result in Southeast Asia’s largest LNG importer experiencing its steepest fall in fuel purchases. Official data revealed that the power generated and imported by the 70 million-plus people in the country fell by 5.4% in the seven-month period ending in July. This is nearly twice as much as the 2.8% drop in January-July of 2020, due to the coronavirus lockdowns. The official data for the last four decades show that the annual drop in production is only the fourth since the early 1970s.
Bezos' renewables alliance targets $7.5 billion for developing countries
Executives from an alliance installing renewable energy in developing nations want to invest $7.5 billion over its next five-year plans. They are also looking for more philanthropic partnerships as richer countries cut their government aid. The Global Energy Alliance for People and Planet was launched in 2021 at the global climate talks. It has assisted more than 30 countries in improving electricity grids, setting up battery storage and creating jobs in green economy. The program secures money at a low or no cost from governmental or charitable sources in order to lower the risk of investment and attract money from private lenders and multilateral development banks.
Indonesia sovereign wealth fund INA targets AI in healthcare and renewables, data centres and the Indonesian sovereign wealth fund INA
Chief Investment Officer of the Indonesia Investment Authority, Mr. Agung, said that the fund's priority areas are digital infrastructure, healthcare, and renewables, as it seeks to support the economic development of the country and find foreign partners. INA was launched in 2021, with $5 billion of capital provided by the government, and a dual mission to foster sustainable growth and generate returns. The initial focus was on direct equity investment to attract foreign co-investors. The fund has added private credit and hybrid capital to its assets of 163.4 trillion rupiah (10 billion dollars) since then…
IEA reduces 2030 low-emission hydrogen production forecast by almost a quarter
The International Energy Agency reported on Friday that a wave of cancellations as well as cost pressures and policy uncertainties have reduced the projected 2030 development by almost a quarter. The IEA's Global Hydrogen Review states that the IEA expects to produce 37 million metric tonnes of low-carbon fuel per year by 2030. This is down from 49 millions a year ago as developers have shelved plans or delayed them. It added that the actual output may be lower, as not all projects announced are completed. The report stated that the capacity of plants that are already in operation…
GASTECH-Japan’s Inpex considers UAE production increase, Norway expansion
Inpex, Japan's largest oil and gas exploration company, is looking at increasing production in its concessions onshore and off-shore in the United Arab Emirates as well as expanding their activities in Norway. This was announced by its chief executive and president on Tuesday. Takayuki ueda, speaking on the sidelines at the Gastech conference held in Milan, stated that this is in line the UAE's plan to increase production from 4 to 5 million barrels a day. We have assets in Norway and just recently acquired assets in the Northern Sea. We also have land to expand our operations in Norway.
GASTECH-China-Russia pipeline plans do not affect Asian demand for US LNG, according to Venture Global CEO
According to Michael Sabel of Venture Global LNG (the second largest U.S. LNG exporter), recent gas agreements between China, Russia and other countries are unlikely to affect Asian demand for U.S. LNG. China, which is the largest LNG importer in the world, signed agreements on September 2 for a boost of gas supply via the existing Power of Siberia pipe and to build Power of Siberia 2. This has raised concerns that it could reduce China's appetite to import LNG. Sabel said on the sidelines at the Gastech conference, in Milan: "Don't be distracted by the short-term impact of politics.
Singapore Central Bank secures $510 Million to support green infrastructure in Asia
Singapore's central banks announced on Monday that it had secured $510m in committed capital to be used for a fund which would support green infrastructure in Southeast Asia and South Asia. The Monetary Authority of Singapore announced that it had secured funding from a variety of regional players including Asia-focused lender HSBC, the Australian Government and Singapore's State-owned Investor Temasek. Green Investments Partnership is a fund that will support sustainable transportation, renewable energy, and storage. It's part of the Financing Asia Transition Partnership initiative, launched by Singapore's central bank in 2023. The fund is managed by Pentagreen Capital.
Document from the Politburo shows Vietnam is open to using small modules nuclear reactors
According to a document released by the Communist Party’s Politburo (the most powerful body in the country), Vietnam is open to the use of small module reactors to power its planned nuclear plants. Southeast Asia, a manufacturing hub in the region, seeks to increase its capacity for power generation to support an economy that is one of the fastest growing in the world. The document is available on the internet. It calls for a rapid development of "a flexible nuclear energy development plan with small module reactors" and encourages private companies in the nuclear industry. It is the first time Vietnam publicly announced that it would consider small modular reactors.
Sanctioned Arctic Mulan LNG Tanker Berths in China
A tanker carrying liquefied natural gas from Russia's sanctioned Arctic LNG 2 plant has moored at an import terminal in southern China on Thursday, after loading at a Russian storage facility in June, Kpler and LSEG ship-tracking data showed.If the tanker discharges the LNG at the terminal, this would be the first cargo from the Arctic LNG 2 project to be received. The project is targeted by Western sanctions over Russia's war with Ukraine.The Arctic Mulan LNG tanker was idling off the coast of Egypt from February to April before travelling through the Suez Canal…
WTO panel supports Indonesia on multiple counts in biodiesel dispute with EU
An official copy of Friday's ruling revealed that a World Trade Organization panel had sided with Indonesia in several important claims made in its complaint against countervailing duty imposed by the European Union for biodiesel imported from the country. In 2023, Indonesia filed a dispute with the WTO alleging that the EU imposed duties on biodiesel imports from Southeast Asia in violation of the rules of the body. The panel concluded that "we recommend that the European Union brings its measures in line with its obligations under SCM Agreement", referring to an agreement of the WTO on countervailing and subsidy measures.
UN calls on Australia to increase climate action
The UN climate chief called on Australia set an ambitious emissions target for 2035 and to accelerate its clean energy transformation, warning that failure to act could undermine living standards and regional stabilty. Simon Stiell said that Australia should "go big" and do what is smart. "Don't settle with what is easy. "Bog standard is beneath you", he said, at an event organized by the Smart Energy Council in Sydney. Australia is under fire for supporting new fossil fuel projects, while also attempting to co-host UN COP31 Climate Summit with the Pacific next Year.
Enphase Energy's forecast for third-quarter revenue is below expectations, and shares fall
Enphase Energy's third-quarter revenue was below Wall Street expectations on Tuesday. President Donald Trump's tariffs on imports had an impact on its gross margin. The solar inverter manufacturer's shares fell more than 7% following hours. U.S. Trade officials finalized in April steep tariffs on the majority of solar cells imported from Southeast Asia after American manufacturers complained about companies from the area flooding the market unfairly with cheap goods. Enphase and other renewable energy companies are also faced with significant uncertainty, as Trump pushes for the repeal or modification of tax credits for solar energy and wind energy projects.
Malaysia increases coal power production and imports to meet growing demand
A data analysis showed that Malaysia was boosting its coal-fired electricity output and importing fuel at record-high levels. It is taking advantage of the low prices, even though it has pledged to increase the use of gas-fuelled power generation on a longer-term basis. Southeast Asia's nation is the 5th largest exporter of liquid natural gas, but it has stated that due to dwindling reserves and rising demand for the fuel, they may start importing super-chilled fuel. The nation has gradually increased coal-fired electricity production to meet the surge in demand from data centres. In May and June, coal-fired electricity production in Peninsular Malaysia grew by nearly 9%.
Solar panel manufacturers in the US seek tariffs against imports from Indonesia and India
Documents on the website of an agency show that a group of U.S. manufacturers of solar panels asked the Commerce Department for anti-dumping and compensatory duties to be imposed on imports coming from Indonesia, India, and Laos. The petition is a latest attempt by the small U.S. Solar Manufacturing Industry to seek relief from trade restrictions to protect billions in investment and to compete with goods produced by Chinese companies abroad. First Solar, Hanwha Qcells, Talon PV and Mission Solar are all members of the Alliance for American Solar Manufacturing and Trade that filed this petition.