KUALA LUMPUR: Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71 per cent, hurt by impairment costs and lower prices of major products. Petronas said profit after tax for the October-December period fell to 4.1 billion ringgit ($968.12 million) from 14.3 billion ringgit in the same period a year earlier. Excluding impairment charges, profit totalled […]

KUALA LUMPUR, Feb 26 — Yeo Bee Yin today expressed her thanks to all the officials in her former ministry in a heartfelt farewell message, also proclaiming her pride in them for their excellent service while also offering her apologies for being demanding on their performance during her tenure as minister. Yeo, who headed the […]

While geothermal power generation capacity has been increasing in Indonesia, investment and development of geothermal has not seen the growth it could show. Investors still seem to refrain from developing geothermal energy. The indication, can be seen from the auction of the geothermal working area (WKP) in 2019. Of the three geothermal working areas (WKP) […]

Indonesian coal miners may lose buyers because of a regulation that requires coal exporters to only use domestic shipping companies and insurance services, experts have warned. The head of the marketing and logistics department at the Indonesian Coal Mining Association (APBI) Hendri Tan said that many overseas buyers would choose to import coal from other countries because of […]

‘Solar Module Super League’ (SMSL) member, LONGi Solar has signed a framework agreement to buy Vietnam-based solar cell and module OEM (Original Equipment Manufacturer), Vina Solar for RMB 1.78 billion (US$253 million). Vina Solar is a subsidiary of Chinese industrial company East Group. The deal to purchase Vina Solar comes straight after China-based PV manufacturer, […]

Nearly a third of Vietnam’s primary energy supply could be covered by green energy by 2045, according to government proposals emerging as the country prepares to hold PV auctions. The 97-million-inhabitant state and current solar hotspot in Asia will work to ensure renewable energy accounts for a 15-20% share by 2030 and grows to 25-30% […]

In an interesting interview with Winfried Wicklein, country director for Indonesia at the Asian Development Bank (ADB), the Oil & Gas Yearly covers a lot of details related to the energy market in Indonesia, including geothermal energy. The interview covers challenges for the economy, the current state of the banking system and leverage of it […]

The Indonesian Ministry of Energy and Mineral Resources (ESDM) said that this year’s geothermal working area (WKP) auction is still waiting for new regulations. The government is drafting rules to make investment in the sector more attractive.  The new rules also aim to reduce electricity prices from geothermal power plants. “The main thing is we […]

Phase 1 of National Electrification Project (NEP) will be finalized at the end of September this year to provide electricity to 626,757 family households from 5,080 villages, said Union Minister Win Khaing for Electricity and Energy. The government received a US$310 million loan from the World Bank (WB) to implement the NEP. Myanmar has 51 […]

The Ministry of Industry and Trade is arguing against using a bidding mechanism for deciding solar power tariffs, saying it could have negative impacts. In its latest report to the government Tuesday, the MoIT has suggested that solar power projects approved before November 23, 2019 that begin operating before January 1, 2021 should enjoy fixed […]