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investment

Asia

Pertamina ups planned Rokan investment to $3bn, seeks partners for EOR

Indonesian national energy company Pertmina plans to invest $3 billion in the giant Rokan Block over the next five years in an effort to maintain upstream production after taking over operatorship from Chevron. Crucially, Pertamina said it is also seeking for partners interested in jointly developing chemical enhanced oil recovery (EOR) technology after failing to acquire the knowhow from Chevron (NYSE:CVX).

Renewables/Energy Transition

Asian Infrastructure Investment Bank and IRENA team-up to accelerate Asia’s energy transition

The China-based Asian Infrastructure Investment Bank (AIIB) and the International Renewable Energy Agency (IRENA) have signed a memorandum of understanding committing to work together to support Asia’s energy transition and mobilise greater private capital for renewable energy. Significantly, the AIIB has been viewed in some quarters as a potential rival to the World Bank and IMF.

Oil & Gas

Oil price could hit $200 without new investments says Omani minister

Oil prices could hit $200 per barrel if no new investments are made in the upstream oil and gas sector in the short-term, Oman's energy and minerals minister said yesterday in reply to the International Energy Agency's (IEAs) assessment for reaching net-zero emissions by 2050, reported S&P Global Platts.

Asia

ExxonMobil plans exploration drilling in giant Indonesian Block

US supermajor ExxonMobil said it is planning to restart exploration drilling at its giant Cepu Block in Indonesia, despite rumours that it is looking to divest its interest, in a bid to find new reserves. Cepu, which holds the Banyu Urip project, one of Southeast Asia’s biggest oil developments, is Indonesia’s largest oil producing block.

Events

Reuters Events free webinar: Financing the energy transition

Are you struggling to understand which investment opportunities are right for your company and renewable portfolio? Join Reuters Events, Renewity and SMBC Bank International, in the upcoming free webinar, Financing The Energy Transition: Make the Right Investment Choices to learn how to tackle the industry’s biggest challenge.

Oil & Gas

Student minds are driving big change

Student body presidents from eight top US universities came together recently to endorse a statement on fossil fuel divestment drawn up by Harvard University’s Undergraduate Council.