Indonesia grasps at ever-widening energy deficit

Southeast Asia's largest hydrocarbon producer has always thought carefully before acting and the present regime, now more than a year old, shows no signs of breaking with tradition

Indonesia's president, Joko Widodo, filled the country's oil and gas industry with hope when he came to office in October 2014. Expectations were high that the reform-minded leader would move fast to stave off an energy crunch. But one year on, progress has been erratic. Jokowi, as he is known locally, has so far failed to reshape Indonesia's oil and gas regime to lure much-needed foreign investment. His government has failed to pass a new oil and gas law - the last one was annulled in November 2012 - creating a drag on upstream investment in the archipelago. The lack of contractual, regulatory and fiscal certainty amid the low-oil price environment has conspired to delay or even derail some