Indonesia - Domestic Indonesian expenditure on upstream oil and gas forecasted to hit US$5 billion
Source: Jakarta Post, 25 August 2009
Domestic firms in Indonesia are forecasted to profit from increased expenditure from oil and gas contractors in 2009 due to the government’s efforts to promote the use of local products and services.
Domestic expenditure might hit as much as US$5 billion. Although this level of domestic spending is still not optimal, it is still significantly higher than that of previous years. It is hoped that by the end of 2010, a greater percentage of total expenditure in the upstream oil and gas sector will flow to domestic suppliers. Currently, there are as many as 231 oil and gas contractors operating in Indonesia. 63 of them have reached the production stage. As of 17 August 17 2009, the total average oil production for all contractors was 950,000 barrels of oil per day. This is 99% of the oil lifting target set by the government.
China - Solar power makers to benefit from new incentive scheme
Source: South China Morning Post, 31 August 2009
The China government might introduce a new incentive scheme based on power prices for the solar energy generation industry by end 2009. The new scheme will enable producers to charge at least 19% more than previous prices.
As solar energy is more costly than other forms of energy production, the government is introducing the guaranteed tariffs so as to encourage production and consumption of solar power. This would help to improve solar power’s competitiveness when compared with other forms of energy.
Taiwan - Renewable energy act positive move for Taiwan's green energy sector
Source: Asia Pulse, 07 September 2009
Taiwan's government recently passed a renewable energy act meant to promote renewable energy development in the country. This is likely to serve as a boost for Taiwan's green energy industry.
Industry insiders forecast that the green energy industry will grow now that it has obtained both government support and private investment. It is hoped the the sector would transform Taiwan into a major power in energy technology and production and that more jobs would be created. The new act provides a legal framework to increase investment in renewable energy production. Incentives are also given to local consumers who install renewable energy equipment so as to increase demand.