• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 1 hour In a Nutshell...
  • 8 hours Is OilPrice a cover for Green Propganda
  • 18 hours Putin Paid Militants to Kill US Troops
  • 11 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 7 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 12 hours Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 2 days Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 11 hours Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 2 days Apology Accepted!
  • 18 hours The Political Genius of Donald Trump
  • 2 days Why Oil could hit $100
  • 3 days U.S. natural gas at major disadvantage in Europe and China.
  • 2 days Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
Venezuela’s Oil Production Continues To Plummet

Venezuela’s Oil Production Continues To Plummet

Venezuela’s crude oil production tumbled…

Gulf Oil Producer Oman Is Quickly Running Out Of Options

Gulf Oil Producer Oman Is Quickly Running Out Of Options

Oman’s high breakeven price per…

Indonesia And UAE Talk $5 Billion Energy Partnership

Talks between Indonesia and the United Arab Emirates could bring the launch of a $5 billion energy project, according to news from a recent meeting between Indonesian President Joko Widodo and UAE Energy Minister Suhail Mohammed Faraj Al Mazrouei.

"We know that currently the world energy market is undergoing some transformation. Of course, changes have been made with sustainable and renewable energy," the president said at the Merdeka Palace in Jakarta on Thursday.

Currently, the value of the UAE’s investments in Indonesia amounts to $2 billion, according to Arcandra Tahar, deputy energy and mineral resources minister.

The UAE officials recommended that Indonesia begin investment protection before sealing any bilateral international agreement. Al Mazrouei also requested tax incentives that would prevent double taxation for the UAE’s investments in Indonesia. Masdar, a UAE-based clean energy company, is also interested in working in the island nation.

"We are also talking about Masdar, a company from the UAE, who wants to invest in renewable energy, including PLTS, solar power plants," Tahar confirmed, adding that the green company had been in talks with government-run electric firm PLN. "In addition, we also suggested that it would be good if investment in Indonesia is made in cooperation with local companies, so that cooperation will be mutually beneficial.”

Indonesia is currently producing some 800,000 barrels of crude daily – about half of what it consumes. That number is expected to soon surpass 1 million bpd, to reduce the country’s dependence on imports, which this month are estimated to have reached 8.4 million, through the $200 billion in oil investment the country plans to attract. Over the first quarter, Indonesia’s average monthly import rate was 10.55 million barrels.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News