Our work: Energy Markets

Navigating Indonesia’s RKAB policy shifts and coal fundamental risks: Harum Energy diversification strategy

PT Harum Energy Tbk reduced its reliance on coal revenue from 88.0% in 2023 to 34.4% in 2025....
Read more
Download

Part 2 of 2 Indonesia’s Coal Exports: Courting Southeast Asia is a stop-gap measure

Indonesia’s coal sector may be hitting the limits of market diversification. Its closest customers, in East Asia, Southeast Asia and..
Read more
Download

Part 1 of 2 – Indonesia’s Coal Exports: Structural headwinds from China lurk behind cyclical facade

The Indonesian coal story has suffered an export shock inflicted by its biggest buyer, calling attention to structural changes that....
Read more
Download

Indika Energy’s Smart Play Beyond Coal

Indika’s plan to achieve a 50:50 revenue split between coal and non-coal businesses by 2028 signals a clear and measurable..
Read more
Download

Coal Mining in Indonesia: The Paradox of Strength and Uncertainty

Time for Indonesian coal firms to embrace energy transition while conditions favour change. Relatively high prices, market confidence and stable..
Read more
Download
Load More