Indonesia is expected to use more LNG cargoes from Pertamina for electricity generation in 2022, as the country faces energy shortages and climate change concerns. The country also plans to introduce a carbon tax for its coal-fired power sector in April, as part of its COP26 pledges. The carbon tax will target coal-fired power plants and other sectors.
Indonesian crude oil price (USD/barrel) 51 67 62 40 55-65 63 Crude oil production (thousand barrels per day) 804 778 746 707 680-705 703 Natural gas production (thousand barrels of oil equivalent per day) 1,142 1,145 1,057 983 987- 1,007 1,036 Budget deficit (2.51) (1.81) (2.20) (6.14) (5.82) (4.85) Source: Republic of Indonesia, 2021
Indonesians have been fretting for weeks about a looming increase in the price of subsidized Pertalite RON-90 gasoline sold by Pertamina, the state-owned oil and gas company.
Natural Gas Monthly Price - US Dollars per Million Metric British Thermal Unit. Range. 6m 1y 5y 10y 15y 20y 25y 30y. May 2023 - Nov 2023: 0.560 (26.05%) Chart. Description: Natural Gas (U.S.), spot price at Henry Hub, Louisiana. Unit: US Dollars per Million Metric British Thermal Unit.Natural gas • Natural gas prices rebounded strongly across all three major gas regions in 2021, rising fourfold to record annual levels in Europe (TTF averaging $16/mmBtu) and tripling in the Asian LNG spot market (JKM averaging $18.6/mmBtu). US Henry Hub prices nearly doubled to average $3.8/mmBtu in 2021 - their highestIndonesia Oil and Gas News. The Indonesia Oil And Gas Market is expected to reach 625.23 thousand barrels per day in 2023 and grow at a CAGR of 1.60% to reach 676.87 thousand barrels per day by 2028. BP Plc, China National Offshore Oil Corporation, PT Pertamina, Chevron Corporation and Shell Plc are the major companies operating in this market.