Indonesia Energy Corporation Limited operates as an oil and gas exploration and production company in Indonesia. It holds interests in the Kruh Block, a producing block covering an area of 258 square kilometers with net crude oil proved reserves of 1.52 million barrels located to the northwest of Pendopo, Pali, South Sumatra; and the Citarum Block, an exploration block covering an area of 3,924.67 square kilometers located onshore in West Java. The company was incorporated in 2018 and is headquartered in Jakarta, Indonesia. Indonesia Energy Corporation Limited is a subsidiary of Maderic Holding Limited.
WTI Crude Oil has continued its rise as tensions escalate in the Middle East due to ongoing developments and significant uncertainties. Year-to-date, Crude Oil futures have risen over 20%, climbing from almost $70 to just over $85 at Friday's close.
WTI Crude Oil has continued its rise as tensions escalate in the Middle East due to ongoing developments and significant uncertainties. Year-to-date, Crude Oil futures have risen over 20%, climbing from almost $70 to just over $85 at Friday's close.
One of today's more incredible movers is Indonesia Energy (NYSEMKT: INDO ) stock. Shares of the Indonesia-based oil and gas exploration company surged more than 100% at their peak today.
Changes come as IEC looks to leverage the exploratory work undertaken in 2023 with a view towards renewing and maximimizing drilling activities in 2024 and beyond
Indonesia Energy (NYSEMKT: INDO ) stock is climbing higher on Thursday after the company announced the discovery of oil in one of its new wells. The big news here is the oil found at Kruh 28 was more than expected.
Indonesia Energy Corp Ltd (NASDAQ: INDO) shares are trading higher by 15.62% to $8.29 Wednesday afternoon amid an increase in the price of oil following reports suggesting OPEC+ has agreed to a 2 million barrel per day output cut. Why It Matters
Even with the broader stock market in the red this morning, oil stocks representing Exxon Mobil (NYSE: XOM ), Occidental Petroleum (NYSE: OXY ) and Indonesia Energy (NYSEAMERICAN: INDO ) were definitely in rally mode. Most likely, this is because the Organization of the Petroleum Exporting Countries (OPEC) Plus met today in Vienna, Austria and announced cuts to oil production.