PT Pertamina, the state-owned oil and gas holding company, has allocated nine per cent of the 2020-24 total capital expenditure (capex) amounting to USD8.28 billion for the development of renewable energy projects in Indonesia. Pertamina will aim to reduce the share of fossil fuels and LPG in Indonesia’s energy mix to 64 per cent while increasing the share of natural gas and renewable energy (RE) to 19 per cent and 17 per cent respectively. Pertamina will use its domestic resources to establish an integrated oil and gas supply chain and an active new and renewable energy portfolio.
