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Oil and gas remain crucial to Indonesia

https://www.thestar.com.my/business/business-news/2021/09/08/oil-and-gas-remain-crucial-to-indonesia

JAKARTA: The oil and gas sector will rem`ain one of the key growth drivers for Indonesia in years to come despite a steady global shift to renewable energy, a minister has said.

Energy Minister Arifin Tasrif said the government was currently devising the National Grand Energy Strategy containing several goals, including increasing oil and gas production and reducing carbon emissions…

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Putra Adhiguna of the Institute for Energy Economics and Financial Analysis said the strategic role of the domestic oil industry was primarily to alleviate the country’s dependence on imports to satisfy domestic fuel consumption.

However, noting that the rise of EVs meant the electricity sector was intertwined with the transportation sector, the government should include EV adoption in discussions regarding the oil industry.

A balanced approach should remain grounded in market realities, according to Putra.

“Without changing the oil demand pattern, demand growth will likely continue to outpace production,” he told The Jakarta Post.