{
    "success": true,
    "data": {
        "id": 1753014,
        "msgid": "upstream-oil-and-gas-excluded-from-regulation-on-export-reform-bahlil-1779545530",
        "date": "2026-05-20 20:21:36",
        "title": "Upstream oil and gas excluded from regulation on export reform: Bahlil",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Regulation",
        "summary": "Indonesia's export reform would require state-owned enterprises to become sole exporters of several natural resource commodities, but upstream oil and gas will be exempt to protect domestic supply and because most sales are governed by long-term contracts before the Plan of Development. Bahlil said exports would continue under existing contracts with no expected transfer pricing or under-invoicing. The policy aims to curb fraud in exports and boost state revenues, with President Prabowo claiming a potential US$150 billion annual gain if illegal mining and export fraud are eradicated.",
        "content": "<p>The regulation, announced earlier by President Prabowo Subianto,\nrequires state-owned enterprises (SOEs) to become sole exporters of\nseveral natural resource commodities, including palm oil, coal, and\nferroalloys.<\/p>\n<p>\u201cBased on my knowledge, in-depth research, and objective information,\nthe President has decided that the regulation does not apply to the\nupstream oil and gas sector,\u201d Bahlil stated here on Wednesday.<\/p>\n<p>The exception is due to the fact that the majority of upstream oil\nand gas sales are intended to meet domestic demand, he added.<\/p>\n<p>Upstream oil and gas exports are also subject to long-term contracts\nand agreements between the government and business entities prior to the\nPlan of Development (POD), he explained.<\/p>\n<p>\u201cFor exports, we carry out long-term contracts, and it is almost\ncertain that there will be no transfer pricing or under-invoicing,\u201d\nBahlil said.<\/p>\n<p>Therefore, Bahlil guaranteed that business processes in the upstream\noil and gas industry will continue as usual, without being affected by\nthe new regulation.<\/p>\n<p>This new policy aims to strengthen oversight and eradicate fraudulent\npractices, including under-invoicing, transfer invoicing, and foreign\nexchange embezzlement from export proceeds.<\/p>\n<p>It is also expected to optimize tax revenues and state revenues from\nthe management and sale of our natural resources.<\/p>\n<p>By eradicating illegal mining and plantations, as well as fraud in\nnatural resource exports, Indonesia may secure US$150 billion a year,\naccording to President Prabowo.<\/p>\n<p>Related news: RI Govt mulls regulation allowing cooperatives to mine\noil, gas<\/p>\n<p>Related news: Papua\u2019s oil and gas regulation could increase local\nrevenue: Analyst<\/p>\n<p>Translator: Putu Indah Savitri, Yashinta Difa<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/upstream-oil-and-gas-excluded-from-regulation-on-export-reform-bahlil-1779545530",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}