This Week’s Headlines (Sep. 27 – Oct. 3, 2025)
03 Oct 2025

Indonesia's Pertamina Says Fuel Retailers Yet to Buy Gasoline on Specification Concerns
Indonesian state energy firm Pertamina said on Wednesday private fuel retailers have yet to buy gasoline, because of concerns about fuel specification, despite thinning stocks.
Last month Indonesia told private retailers to import more fuel through Pertamina after Shell, BP-AKR – the operator of BP's (BP.L), opens new tab fuel stations – and others ran low on supply as more customers turned to them after an inquiry into the quality of Pertamina's own gasoline.
Last week Pertamina said Vivo Energy Indonesia had agreed to buy 40,000 barrels of a 100,000-barrel cargo of base fuel Pertamina imported, but the deal collapsed over concerns about the fuel's ethanol content.
"The concern that private gas stations conveyed was ethanol content ... there is 3.5% ethanol (in the gasoline) that makes private gas stations cancel the purchase," said Pertamina Patra Niaga deputy CEO Achmad Muchtasyar.
He made the remarks to a parliamentary hearing, adding that initially Vivo and BP-AKR had shown interest in buying.
Vivo officials told the hearing they cancelled the purchase because Pertamina could not meet "technical matters", without providing further details. But they said the company was open to purchase from Pertamina in future.
BP-AKR's Chief Executive Vanda Laura said the company was seeking base fuel with no ethanol content, adding that no agreement was reached as a certificate of origin for the fuel imported by Pertamina was not made available.
"One of our shareholder operates in 70 countries," Vanda told the hearing. "We have to adopt international law and reduce trade sanction risk. We have to ensure the product did not come from a country that was embargoed internationally."
Shell, BP-AKR and Vivo said stocks of gasoline products were only available at a few of their fuel stations and would not last beyond the next few days.
BP-AKR said the supply issue might force it to review its expansion plans for the next few years.
Source: Reuters
'Fully Subscribed' USD 3 Billion Patriot Bond to Fund Waste-to-Energy Project: Danantara
Sovereign fund Danantara’s multi-billion-dollar patriot bonds has been “fully subscribed”, and a huge chunk of the proceeds will go into powering Indonesia’s dream of turning its waste problem into electricity, according to the agency’s top brass.
Danantara is selling what they call “patriot bonds” at below-market yields to raise up to IDR 50 trillion or around USD 3 billion in a private placement scheme. In other words, Danantara sells the bonds directly to private investors, specifically the country’s wealthiest tycoons, rather than as part of a public offering. The fund’s chief executive officer, Rosan Roeslani, told reporters on Wednesday that the bonds had gained massive popularity amongst Indonesia’s businesspeople. The investment agency has already decided on where the money should go.
“We have met the target. The IDR 50 trillion bonds have been fully subscribed, and we will use the proceeds mainly for waste-to-energy projects, basically, renewable energy,” Rosan told the press in Jakarta.
A waste-to-energy plant burns trash to generate steam that powers turbines. Danantara is planning to set up such facilities in 33 heavily polluted cities, possibly starting with the metropolis of Jakarta and gradually reaching Bali. The plan is expected to lessen the sub-national government’s financial burden as they have been paying landfills to manage the waste all this time. According to Rosan, Danantara plans to hold a tender to select its project partner by the end of the month.
“Investors from China, South Korea, Japan, the Netherlands, Germany, Singapore, and so on are also keen on taking part in the [waste-to-energy] project,” Rosan said.
“They find our open and very transparent [tender] process to be attractive. ... Investors don't only pay attention to the returns, but they want to see whether it can provide a positive impact on health, environment, and the local communities.”
State-run utility firm PLN will purchase the power generated by these plants at a flat tariff of 20 cents (USD 0.20) per kilowatt-hour. Danantara’s estimates put a price tag of between IDR 2 trillion and IDR 3 trillion on the conversion of 1,000 tons of waste. These costs also derive from the investments required to set up the supporting infrastructure. Early estimates show that processing 1,000 tons of trash can generate 15 megawatts, which Rosan claimed to be enough for 20,000 households.
Source: Jakarta Globe
Golden Visa Investment Hits IDR 48 Trillion, Govt Says
Indonesia has generated IDR 48 trillion (USD 2.86 billion) worth of investment in connection with the issuance of the Golden Visa, a special residency permit introduced last year to invite foreign investors to the country.
According to the Directorate General of Immigration, a total of 1,012 Golden Visas have been issued as of September 23, reflecting the “international community’s confidence in Indonesia’s investment climate”. Acting immigration director general Yuldi Yusman reported that the issuance of the Golden Visa had also contributed IDR 12.96 billion in nontax state revenue.
“The Indonesian Golden Visa, one of the Directorate General of Immigration’s flagship programs, is intended to support national economic growth,” Yuldi said, as quoted in a press release published on Thursday.
Foreign companies establishing subsidiaries in Indonesia account for the lion’s share of the investment at IDR 46.5 trillion, while personal investors contributed IDR 249.3 billion, and other Golden Visa recipients the remaining IDR 1.45 trillion. The immigration office revealed that the people receiving Golden Visas so far originated from 61 countries.
“The achievement of the Golden Visa [program] as of September 2025 has proven that Indonesia is becoming increasingly attractive to global investors and talents. We hope this positive trend continues to support national development and strengthen Indonesia’s economy,” Yuldi concluded.
The Golden Visa stay permit is granted to foreign nationals in specific categories, including investors, foreign nationals with special expertise and world-renowned figures, as well as former Indonesian citizens and their family children.
The special permit comes with a validity period of five to ten years and offers benefits such as priority access at airports, simplified immigration services, and legal certainty for investing and working in Indonesia.
To qualify, individual investors can set up a company worth at least USD 2.5 million to obtain a Golden Visa for five years or USD 5 million for a 10-year one. Alternatively, individual foreign investors who do not intend to establish a company in Indonesia can still apply if they place a certain amount of funds in the country, namely USD 350,000 for a five-year visa or USD 700,000 for the 10-year one.
Corporate investors, meanwhile, are required to invest USD 25 million to get five-year visas for their directors and commissioners, or USD 50 million to gain 10-year permits.
The Golden Visa program was launched by then-president Joko “Jokowi” Widodo last year to attract well-heeled foreigners. During the program’s launch in July 2024, Jokowi emphasized that the visas were “only for high-quality travelers, so [authorities] must carefully select and evaluate the contribution [of each applicant]”.
He also explained that the initiative aimed to create a multiplier effect for the Indonesian economy by facilitating investment from foreign nationals.
The initiative took time to generate interest. According to the immigration's 2024 year-end report, investment from the Golden Visa program was projected to reach IDR 9 trillion from the expected 471 permits issued by December last year, which was less than half of the set target for 2024.
However, uptake has increased since then, as reflected in the latest data. At the Golden Visa launch ceremony, Silmy Karim, who served as immigration director general at the time, said the goal was to welcome 1,000 Golden Visa recipients.
Source: Jakarta Post