On June 15, 2011 the Indonesian Petroleum Association submitted to the Indonesian Supreme Court a petition for judicial review against Government Regulation Number 79 Year 2010 concerning Recoverable Operational Costs and Income Tax Treatment for the Upstream Oil and Gas Industry, because certain provisions of the regulation have seriously taken a...
Amidst the global economic uncertainties of late 2011, Indonesia’s fundamentals are relatively sound. Its foreign currency reserves had surged to $113.9bn as of October 2011, the Jakarta Composite Index is becoming more robust, the rupiah is fairly stable and exports are soaring. The economy registered growth of 6.5% during the third quarter of...
MINING LAW: Mining permits (IUP), Small-scale mining permits (IPR) and special mining permits (IUPK) constitute the mining permit regime under the new Law No. 4 of 2009 concerning mineral and coal mining. The mining industry is now classified into:
An archipelago of over 17,500 islands, Indonesia is today the world’s fourth-largest country by population, at 245m. The astonishing diversity of ethnicities and cultures comes together in a democratic framework under the pancasila, or “five principles”: nationalism, humanitarianism, representative democracy, social welfare and monotheism
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