Indonesia Energy

Ticker: INDO

Sector: Oil, Gas & Consumable Fuels

Indonesia Energy

Indonesia Energy announces five-year extension of its government Contract for Kruh Block share. Company also Provides Update on Development Plans for 2023 and 2024. Indonesia has set ambitious goals of achieving nearly 34 percent renewable energy integration and aiming for net-zero emissions by 2050. RMI and United in Diversity (UID) sign a memorandum of understanding in July 2023, formalizing a partnership to boost energy leadership in Indonesia. Indonesia hopes funds pledged under the Just Energy Transition (JETP) would help finance PLNs planned grid installation, senior cabinet minister Luhut Pandjaitan said at a separate event on Wednesday. Indonesia needs $172 billion investment to increase renewable energy use, state utility says. Indonesia Energy beats PetroQuest Energy on 5 of the 8 factors compared between the two stocks. Indonesia Energy has higher earnings, but lower revenue than PetroQuest Energys. Indonesia is stepping up its renewable energy capacity plans to reduce its reliance on coal. Singapore could start importing two gigawatts (GW) of renewable energy annually from Indonesia within five years. Indonesia can surely deal with its energy transition without jeopardizing the credibility of its capital market. Singapore awarded initial approvals to five energy projects in Indonesia as it aims to advance plans to import clean electricity from neighboring nations and curb its reliance on natural gas. The projects will require development of a total of about 11 gigawatts of solar plants and 21 GWh of energy storage in Indonesia.