Indonesia

Chandra Asri Pacific, based in Indonesia, announced on Monday that it had secured a bespoke financing package of $750 million from investment firm KKR for its purchase of ExxonMobil’s Esso retail fuel station network. The Indonesian conglomerate announced late October that it would retain the Esso brand, continue to source fuel from ExxonMobil and integrate its existing workforce. Chandra Asri has not disclosed financial details about the transaction until now. The deal includes almost 60 fuel stations and associated supply agreements. KKR Capital Markets will arrange the financing solution, which is anchored on KKR’s private credit and Insurance platforms. SJ...

Customs data released on Friday showed that China's imports of coal in October were down 10% from the previous year, due to a holiday which reduced the number working days during the month. Imports will be supported in 2025 by the winter restocking of products during the last two months. Imports in October fell from 46.25 to 41.74 millions metric tons, a drop of almost ten percent. Imports in September reached 46 million metric tonnes, a record high for nine months. Feng Dongbin is vice-general manager of Fenwei Digital Information Technology. He said that imports decreased sequentially, and also from...

Customs data released on Monday showed that China's imports of coal rose to their highest level in nine months, as domestic coal prices increased, making imported coal more affordable. However, shipments were still below the levels seen a year ago. China's General Administration of Customs reported that the country imported 46 million metric tonnes of coal last month. The decline in prices on the international market was responsible for the lower total of last month compared to September, when it was a record high. This record was broken in November. September 2024 is now the second highest month ever. The...

Two senior U.S. government officials announced on Thursday that the United States would deploy 200 troops to Gaza as part of a task force for stability. There will be no Americans present on the ground. According to the officials, who spoke on condition of anonymity with reporters, the 200 people would form the core of a taskforce that would also include representatives of the Egyptian military, Qatar and Turkey, as well as the United Arab Emirates. Officials said that the exact location of U.S. forces had not yet been determined. They would create a joint command center and integrate the...

A company official confirmed on Thursday that the Indonesian state energy company Pertamina will divert fuel from its Dumai refinery to some areas in Sumatra after a fire broke out at the facility. The official added that there had been no disruptions of supply. Agustiawan, a company spokesperson, said that the fire was put out late Wednesday night. He added that gasoil and other supplies were still safe for nearby Sumatra areas. The refinery is still able to supply jet fuel and gasoil for certain areas. Agustiawan stated that other Pertamina refining facilities will divert gasoil and fuel jet to...

Pertamina, the Indonesian state energy company, said that Vivo Energy Indonesia, a private retailer, has agreed to purchase 40,000 barrels out of 100,000 barrels imported by Pertamina to relieve fuel shortages in private retailers. Shell, BP AKR – the operator of BP’s fuel stations – Vivo and other companies ran out of supplies this month after more customers sought them out following a report on the quality of Pertamina’s gasoline. In order to alleviate the shortages, the government has allowed private retailers to import additional fuel via Pertamina. Vivo has agreed to an inter-company process with Pertamina. Vivo will take...

Pertamina, the Indonesian state energy company, said that Vivo Energy Indonesia, a private retailer, has agreed to purchase 40,000 barrels out of 100,000 barrels imported by Pertamina to relieve fuel shortages in private retailers. Shell, BP AKR – the operator of BP’s fuel stations – Vivo and other companies ran out of supplies this month after more customers sought them out following a report on the quality of Pertamina’s gasoline. In order to alleviate the shortages, the government has allowed private retailers to import additional fuel via Pertamina. Vivo has agreed to an inter-business agreement with Pertamina. Vivo will take...

The United States agreed to in principle exempt Indonesian cocoa, rubber and palm oil exports from President Donald Trump’s tariff of 19% since August 7, said the Southeast Asian nation’s chief tariff negotiator on Tuesday. Airlangga hartarto, also chief economic minister of Indonesia, said in an interview that the exemption would take effect after both sides reached a final agreement. However, no deadline was given as the U.S. is busy with tariff negotiations with other countries. Airlangga added that the U.S. also discussed a possible investment by its sovereign wealth fund Danantara in Indonesia's fuel storage, along with state energy...

According to two sources with knowledge of the matter, and a presentation from the economic ministry, Danantara, Indonesia's sovereign wealth fund, plans to sign a $8 billion contract with U.S. engineering company KBR Inc. to build 17 modular refining plants. The contract was part of the trade agreement between Indonesia and the United States last week, which led to the reduction in threatened tariff rates from 32% to 19%. Airlangga Hartarto of Indonesia, who is the chief negotiator for the deal, revealed the modular refinery design during a briefing held behind closed doors on Monday night with Indonesian business leaders....

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. After an extended year of negotiations, marked by dramatic turns and twists, Alimentation Couche-Tard announced that it would abandon its multi-billion-dollar bid to purchase the owner of 7-Eleven convenient stores. Indonesian President Prabowo Subianto confirmed Wednesday that the general outline of a new trade agreement between the United States and Indonesia was agreed. Under the agreement, U.S. goods exported to Indonesia will not be subjected to tariffs while Indonesian products in...

Oliver Tan, the Chief Executive Officer of Citicore Renewable Energy Corp in the Philippines, said in an interview with The Philippine Star on Wednesday that he expects to see a nearly ninefold increase in solar installed capacity by 2026. This will amount to approximately 2,56 gigawatts. Tan, one of the Philippines’ largest solar power producers, behind ACEN Corp., said that Citicore would add 1 GW by the end this year and another 1.17 GW by 2026. The company has 0.29 GW installed solar capacity. This is the result of a 20% stake purchased by the renewable energy division of Indonesian...

China, the largest coal importer in the world, reduced its imports by 18% on an annual basis, according to customs data released Friday. Low-cost domestic coal eroded overseas purchases, while renewables slowed down coal-fired electricity generation. According to the General Administration of Customs, imports were 36.04 millions metric tons for the month, down from 43.82million tons in May 2024. This was the third consecutive month that China's imports of coal fell year-over-year. They had increased previously every month from November 2022. January and February were excluded because they are affected by Lunar New Year holidays. The data shows that coal...

The Chinese-led expansion in Indonesia of aluminium production is expected to lead the global market in excess next year. This will result in lower prices for the metal used widely in the transportation industry. Three new smelters backed by China are close to completion, including Xinfa-Tsingshan Juwan in Weda Bay, Taijing at the Indonesia Morowali Industrial Park and the Adaro-Lygend Kaltara Project in North Kalimantan. Indonesia exported 325.293 metric tonnes of aluminium from January to August of this year. This is up 67% compared to the same period last year. Ross Strachan is an analyst with consultancy CRU. He said,...

A spokesman said that the Indonesian government had begun relocating residents in areas around the Modern Cikande Industrial Estate. The site was found to be contaminated with radioactive Caesium 137. Indonesia launched the effort after it detected high levels Caesium 137, an artificial radionuclide in the sprawling industrial area near Jakarta. At this stage, we will allocate 19 families totaling 63 people. Why now? Why now? He added that the task force will move eight more families, totaling 28 people, in the next phase. The task force said that it has also completed the decontamination of 20 of the 22...

After banning copper concentrate exports in 2011, the energy ministry of Indonesia has now said that it may permit Amman Mineral International, a copper miner, to export copper concentrat after all. Indonesia banned the export of copper concentrates and other raw materials from mid-2023 in order to boost its domestic metal processing industry. However, Amman continued to export until December, last year when it was due to commission a brand new smelter. Tri Winarno, an official in the energy ministry, stated that after a fire broke at its smelter located in West Nusa Tengggara in Indonesia this year. He said...

Two people who have direct knowledge of this matter say that Anugrah Neo Energy Materials, a nickel mining and processing firm in Indonesia, plans to make an initial public offer on the Indonesia Stock Exchange. The company hopes to raise $300 million. Sources declined to identify themselves as this information is not public. According to sources, Anugrah Neo Energy Materials could be valued at more than 2 billion dollars. Proceeds will also be used for expansion. They added that DBS and RHB are among the banks involved in the IPO. Anugrah Neo Energy Materials didn't immediately respond to an inquiry...

The illegal tin mining, and smuggling tin ore costs Indonesian government between 30 trillion rupiah to 40 trillion (US$1.8-$2.4) billion per year. President Prabowo said this on Monday when he called to action to "save Indonesia's entire wealth." Prabowo speaking at a ceremonial event where the Attorney-General handed over 13 trillion rupiah to the government that had been seized in a corruption case against Three palm oil companies The authorities need to investigate more cases of misconduct within the natural resource sectors. He said, "I will continue to pursue the misappropriated money," as he stood before piles of rupiah notes,...

India's steelmills only obtained about half their metallurgical coal needs from domestic suppliers during the first half 2025. This highlights shortages, and intensifies their calls for a easing of the import restrictions on this key steelmaking material. India produced 1.5 millions metric tons between January and June of metallurgical coal, but the demand was almost double at 3.09million tons, according to an insider and government data. India, which is the second largest crude steel producer in the world, implemented import restrictions on metallurgical coal in January, to stimulate the industry. In June, the country extended its curbs by setting country-specific...

China's copper imports fell 6.2% in September. This reversed two months of growth. Exports from Freeport Indonesia’s massive Grasberg mining facility dropped following a mudslide and the expiration of its export licence. Data from the General Administration of Customs revealed on Monday that copper concentrate imports to smelters fell from 2.76 millions metric tons one month earlier to 2.59million metric tons last September. Freeport-McMoRan’s license to export copper concentrate from Indonesia expired on 16 September after a six-month extension. This led to a decrease in shipments. In August, the company increased exports to Indonesia ahead of expiration of their export...

International Copper Study Group (ICSG), a group of researchers, said that the global refined copper market will be in deficit by 2026. This is due to a slower growth of production. The copper price briefly reached a 16-month high on Wednesday, due to fears about possible shortages caused by a recent series of mine disruptions in Indonesia. Chile and Congo. In a statement released on Wednesday, the ICSG said that these incidents prompted it to lower its forecast of the global mine production growth in 2025 to just 1.4% instead of the 2.3% expected in April. These incidents will reduce...

Indonesia's Attorney General handed over heavy equipment and smelters seized as part of a corruption investigation to state-owned tin mining company PT Timah on Monday, while President Prabowo urged the authorities to stop illegal tin mining and smuggling. The resource-rich nation is stepping up its efforts to improve the governance of natural resource exploitation. This includes measures such as a crackdown on illegal mining. Prabowo visited the tin hub Bangka Island in order to see the transfer of assets confiscated following a number tin executives' convictions for colluding with illegal mining. Attorney General said that their actions led to state...

Vale Base Metals began operating a new Nickel furnace at its Onca Puma Complex in northern Brazil. The company claimed that this would increase the nominal production capacity of the asset by 60%, and allow them to produce more for lower costs. Shaun Usmar, Vale Base Metals' CEO, said on Tuesday that the new furnace would help the company deal with the current low nickel prices. The firm attributes the low nickel price to an oversupply of nickel from Indonesia. It will also put Vale Base Metals in a very strong position for when the market recovers. Usmar stated that...

Shanghai tin reached a six-month high Tuesday as supply concerns grew following reports about a crackdown against illegal mining in Indonesia, a key producer. The Indonesian president Prabowo Subito ordered the closing of 1,000 illegal tin mining operations on the island Sumatra where tin-mined goods were being smuggled on small boats and ferryboats, according to state media Antara. Antara quoted Prabowo as saying that 80% of the tin produced in the main producing region of Bangkia Belitung, off the east shore of Sumatra, was being smuggled abroad. Fears of a lower supply in the second largest tin-producing country in the...

On Monday, tin prices reached their highest level in nearly six months as fears of a shortage of supplies were sparked by reports of an Indonesian crackdown on mining. The Indonesian president Prabowo Subianto has ordered the closing of 1,000 illegal tin mining operations in Bangkia Belitung, a key region for tin production off the east coast Sumatra. Tin was being smuggled on small boats and ferryboats. "There are 1,000 illegal mines in this region." "I ordered the related parties to launch a large-scale operations in Bangka Belitung starting September 1 and shut down almost 80% of smuggled Tin," Prabowo...