[Kabar-indonesia] 16 RI oil/gas/mining reports: US$1.2B Bumi Loan; '06 Output Seen Down; Pertamina
JoyoNews at aol.com
JoyoNews at aol.com
Tue Sep 19 22:15:10 MDT 2006
16 Reports:
- Bumi secures US$1.2 bln
syndicated loans
- Indonesia oil watchdog sees oil
output fall in '06
- Bloomberg: Oil Trades Near
Six-Month Low on Rising
Stockpiles, Iran Talks
- Indonesia Likely To Miss
1.050M B/D Crude Output
Target [previously sent]
- Indonesia says 16 oil/gas
contractors miss exploration
commitments
- Platts: Pertamina cuts high
octane gasoline, gasoil prices
September 19
- Indonesia seeks prompt
gasoline after brief outage
- Kuwait's KUFPEC sells
Indonesia oil field stake-KUNA
- Asia Crude-Indonesia offers
200,000 bbls/mo Q4 Geragai
- China CNOOC to announce
Malaysian LNG deal shortly
- Asia-Pacific Crude-Direction
uncertain for Nov
- Japan's Intl Finance Bank
To Help Build Indonesian
Power Plants
- Indonesia Antam to restart
third smelter in Oct
- Indonesia Bakrie To Build
100,000 MT/Yr Biodiesel Plant
- WSJ: Idemitsu Prepares Listing
[Japanese Oil Refiner Seeks
US$916 Million To Back
Energy Deals]
- Petromindo Headlines, Wed.,
Sept. 20, Tuesday, Sept. 19, 2006
Bumi secures US$1.2 bln syndicated loans
JAKARTA, Sept 20 (Reuters) - Indonesia's largest mining group PT Bumi
Resources Tbk said it had secured $1.2 billion worth of syndicated loans from
lenders led by Credit Suisse to finance maturing debt and buy back shares.
Nalinkant Rathod, a commissioner at the firm, told Reuters the maturity of
the
loans was between three to six years.
Around $800 million will be used to repay maturing notes, and the rest will
finance
a planned buyback of shares from investors who oppose its plan to merge with
a sister company, PT Energi Mega Persada Tbk.
Bumi is the owner of the country's two largest coal mines, PT Kaltim Prima
Coal
and PT Arutmin Indonesia, which together accounted for 37 percent of
Indonesia's exports.
It plans to sell a minority stake in its coal mines following the collapse
last month
of a $3.2 billion deal to sell majority holdings in those mines.
-----------------------------------------------------
Indonesia oil watchdog sees oil output fall in '06
JAKARTA, September 19 (Reuters) - Indonesia oil watchdog
BPMIGAS expects the country's crude oil and condensate output
to fall to 1.03 million barrels per day (bpd) in 2006 from 1.06 million
bpd in 2005 because of ageing fields and no significant development,
a BPMIGAS official said on Tuesday.
Indonesia has struggled to maintain production as the country has
failed to tap new oilfields fast enough.
"We are still efforting to add production to the current average of
1.03 million bpd. But I think the output will be the same through the
end of this year," Achmad Luthfi, BPMIGAS deputy chief, told
reporters.
"Most of the fields are already producing oil for many, many years.
They are now declining which we cannot avoid," he added.
BPMIGAS is authorised to monitor and control oil contractors working
in Indonesia.
Indonesian crude oil production fell again in August, extending
successive drops to the lowest level in more than three decades, an
official has said.
Indonesia, OPEC's second-smallest member, pumped 860,500 barrels per
day (bpd) in August, down from 887,000 bpd of crude in July, the
lowest in three and a half decades.
Condensate production eased to 124,000 bpd in August, the official
said, down from 131,000 bpd in July.
--------------------------------------
Indonesia Likely To Miss 1.050M B/D Crude Output Target
JAKARTA, September 19 (Dow Jones)--Indonesia will likely miss its
production target of 1.050 million of barrels of crude oil and
condensate a day this year, as average daily production stood only at
1.032 million b/d during the first eight months of the year, a
government official said.
"This due to the natural decline in our crude production," said Achmad
Lutfie, planning director at the official upstream oil and gas
regulating body BP Migas, without elaborating.
Indonesia's crude oil output has been declining steadily in recent
years due to a lack of exploration activity. Investors were reluctant
to look for oil and gas in the country mainly due to legal
uncertainties, such as taxes imposed on oil companies during
exploration.
Indonesia is the only Asian member of the Organization of Petroleum
Exporting Countries who is a net oil importer.
------------------------------------
Oil Trades Near Six-Month Low on Rising Stockpiles, Iran Talks
By Gavin Evans
Sept. 20 (Bloomberg) -- Crude oil traded near a six-month low in New York
after plunging yesterday on speculation fuel stockpiles are rising and
negotiations over Iran's nuclear program will be drawn out.
Oil posted its biggest fall in four months after U.S. President George W.
Bush said he will give European diplomacy a chance to end the dispute with Iran,
the world's fourth-biggest oil producer. A government report later today will
probably show U.S. fuel stockpiles, already above average, extended their
gains of the past month.
``The mentality of the market has changed,'' said Mark Waggoner, president of
Excel Futures Inc. in Huntington Beach, California. ``We've got rising
stockpiles, the summer driving season is over'' and worries about Iran are ``falling
by the wayside.''
Crude oil for October delivery was at $61.79 a barrel, up 13 cents, in
after-hours electronic trading on the New York Mercantile Exchange at 11:33 a.m. in
Singapore.
The contract, which expires today, fell $2.14, or 3.4 percent, to $61.66 a
barrel yesterday, the lowest close since March 21 and the biggest one-day
decline since May 15. The more actively traded November contract was at $62.29, up
12 cents, in after-hours trading, after falling 3.7 percent yesterday.
Oil futures reached a record $78.40 a barrel on July 14. Prices have fallen
21 percent the past two months as U.S. stockpiles rose and the United Nation's
Aug. 31 deadline for Iran to stop uranium enrichment passed without sanctions
being imposed.
French Initiative
French President Jacques Chirac yesterday proposed the suspension of plans
for sanctions against Iran if the Islamic republic also suspended its enrichment
during negotiations.
The U.S. agrees with the French strategy and will ``come to the table,'' once
Iran has suspended its enrichment, Bush said yesterday. The U.S. has ``no
objection'' to Iran's pursuing of a truly peaceful nuclear power program, he
said.
``The Bush speech was tame relative to what a lot of us expected,'' Nauman
Barakat, senior vice president of global energy futures at Macquarie Futures USA
Inc. in New York, said yesterday. He ``appears to have moved to the European
position.''
In a later speech to the UN, Iranian President Mahmoud Ahmadinejad said
Iran's program to develop nuclear power was for peaceful purposes and that the U.S.
was using the UN Security Council as an ``instrument of threat and
coercion.''
`Drawn Out Affair'
The UN-Iran dispute has ``gone from a scenario where it looked like it would
come to a head very quickly,'' said Rowan Menzies, commodity markets analyst
with Commodity Warrants Australia in Sydney. ``Now it looks like it's going to
be a long drawn out affair.''
Hedge funds may also be selling futures after seeing others lose money in the
energy market and as the pace of the decline in oil has accelerated, analysts
and traders said.
``We can't know that for sure, but I think some of that probably is
happening,'' Excel's Waggoner said. ``The trend is now down and you go with the
trend.''
Amaranth Advisors LLC, a hedge-fund manager overseeing about $9.5 billion,
told investors Sept. 18 that its two main funds fell an estimated 50 percent
this month because of a plunge in natural-gas prices.
``The Amaranth debacle has spread to other markets to an extent,'' Aaron
Kildow, a broker at Prudential Financial Derivatives LLC in New York, said
yesterday.
`Lush Inventories'
Hedge-fund managers and other large speculators have cut their bets on rising
oil prices for each of the past four weeks, according to the Commodity
Futures Trading Commission.
Net long positions, the difference between bets on rising prices and bets on
falling prices, fell by 22 percent to 37,020 contracts in the week ended Sept.
15. Short positions rose to their highest since March 14.
``These funds can go short as quickly as they went long,'' Jason Schenker, an
economist with Wachovia Corp. in Charlotte, North Carolina, said yesterday.
``I think the most important thing at the moment is how lush product
inventories are.''
An Energy Department report today will probably show U.S. supplies of
distillates, including diesel and heating oil, rose by 1.8 million barrels last week,
their sixth straight gain, based on the median estimate from a Bloomberg News
survey of 16 analysts.
Inventories held 144.6 million barrels the week before, 12 percent more than
the five-year average for the period.
Gasoline supplies probably rose for a fifth week, gaining 650,000 barrels
according to analyst survey. Inventories held 207 million barrels on Sept. 8, 3.8
percent higher than the five-year average.
Gasoline for October delivery was at $1.5090 a gallon in after-hours trading,
after falling 4.8 percent to $1.5038 yesterday, the lowest close since Feb.
22.
October heating oil was at $1.6980 a gallon, after falling 2 percent to
$1.6916 yesterday, the lowest close since March 10.
--------------------------------------
Indonesia says 16 oil/gas contractors miss exploration commitments
JAKARTA, September 19 (XFN-ASIA) - At least 16 oil and gas contractors
have missed their exploration commitments while two other are
'inactive', Kardaya Warnika, chairman of oil and gas upstream business
regulator, BP Migas, said.
He said the 16 include Orna International, Pearl Oil(Satria) Ltd,
Tately Palmerah, Asia Petroleum Development, Continental Geopetro,
National Petroleum, Energy Equity and Irian Petroleum.
He said the inactive contractors are Titan Resources, the contractor
for the North East Natuna block and PT Cahaya Batu Raja for Air
Komering block. The two failed to get financing and partners to begin
exploration.
BP Migas periodically monitors whether contractors' are meeting their
stated commitments on exploration for the first three years after the
signing of contracts.
Warnika said if at the end of the three years, the stated commitments
have not been met, BP Migas would typically penalise the offender by
requiring them to hand back part of the contract exploration area to
the government.
Meanwhile the country's oil output stood at around 1.03 mln barrels of
oil per day (bopd) at end-August.
BP Migas' deputy head on planning affairs, Ahmad Luthfi, said he
expected the output to rise to 1.04 bopd by the end of the year, aided
by some additional output from state-run PT Pertamina. Next year it
should reach 1.05 bopd with nine new wells coming on stream.
----------------------------------------------------------
Platts Commodity News
September 19, 2006
Pertamina cuts high octane gasoline, gasoil prices September 19
Indonesia's state-owned oil and gas company Pertamina has lowered the
price of high octane gasoline, which does not enjoy government
subsidies, and 53 Cetane gasoil by up to 9.8% and 3.5% respectively
from September 19, company spokesman Toharso said Tuesday.
Pertamina has lowered the price of 95 RON gasoline by 8.1% and the
price of 92 RON gasoline by 9.8%. The last price adjustment was on
September 1.
The lower price reflects current price trends, Toharso said.
Pertamina's move to cut prices follows Shell's September 16 decision
to lower high octane gasoline and gasoil prices in Indonesia by as
much as 8.6%.
Toharso said that Pertamina would give a special discount on 95 RON
and 92 RON gasoline sold at its retail stations in Jakarta which are
located near those operated by new entrants in the market Shell and
Malaysia's Petronas.
This is the first sign of competitive pricing emerging in the
Indonesian fuel market, which was long under Pertamina monopoly.
Following liberalization of the country's oil sector since 2001,
Petronas last year moved in to open one retail station in Jakarta,
while Shell has set up four.
Pertamina sets varying prices for gasoline and gasoil outside the
government subsidy system for different parts of the vast archipelago,
depending on the distance over which it has to transport the products.
The company determines its monthly retail prices based on spot
Singapore prices as assessed by Platts over the previous month.
Indonesia consumes about 400 kiloliters (about 2,516 barrels) of 95
RON gasoline daily and 900 kiloliters of 92 RON gasoline. Consumption
of 53 Cetane diesel is 100 kiloliters per day. The lower RON gasoline
grades as also regular diesel for public transportation and kerosene
are priced much lower, thanks to heavy subsidies from the central
government. Any price changes in these fuels have to be approved by
the government.
The subsidized 88 RON gasoline is currently sold at Rupiah 4,500/l,
gasoil at Rupiah 4,300/l and kerosene at Rupiah 2,000/l.
---------------------------------------------------------
Indonesia seeks prompt gasoline after brief outage
JAKARTA, September 18 (Reuters) - Indonesia's state oil firm is
seeking to buy 140,000 barrels of prompt gasoline on the spot market
after a brief electrical outage at its Balikpapan refinery trimmed
production, a Pertamina official said on Monday.
"There was a problem of electricity supply last week that caused the
refinery to shut for a little while, but we are already onstream now.
However, we need to import more gasoline," said Achmad Faisal,
processing director at Pertamina.
The hydrocracker at Balikpapan, Indonesia's second-largest refinery,
has a capacity of 55,000 barrels per day (bpd).
-------------------------------------------------------
Kuwait's KUFPEC sells Indonesia oil field stake-KUNA
KUWAIT, September 18 (Reuters) - State-owned Kuwait Foreign Petroleum
Exploration Company (KUFPEC) said on Monday it has sold 67.5 percent
of its operational shares in the Seran Non-Bulaan oil field in
Indonesia, KUNA news agency reported.
KUFPEC Chairman and Managing Director Bader Khashti told the official
news agency that 51 percent of the stake in the field was sold to a
Chinese firm and another 16 percent to Kuwait's Gulf Petroleum
Investment Co. .
Hong Kong-listed CITIC Resources Holdings Ltd. said in July it would
buy a 51 percent interest in the field for $97.4 million.
"The deal was aimed at reducing the size of the risk on KUFPEC which
owns 97.5 percent of the field, which is a high proportion and makes
the company shoulder almost all the risks associated with investing in
the field," Khashti said.
KUFPEC is reserving about 30 percent stake in the field which produces
about 5,000 barrels per day.
The Seram Non-Bula Block's principal oilfield, Oseil Field, has been
estimated to contain gross oil reserves of about 39 million barrels as
of December 2005, including 7 million barrels of proven reserves.
---------------------------------------------------------
Asia Crude-Indonesia offers 200,000 bbls/mo Q4 Geragai
SINGAPORE, September 18 (Reuters) - Indonesia's oil and gas regulator
BPMIGAS has issued a tender to sell 200,000 barrels a month of Geragai
condensate during the fourth quarter of this year, a company source
said on Monday.
The tender closes on Thursday.
"There is some excess production. Normally we send it to domestic
refineries but they have reduced their runs of the grade because they
already have a lot of light crude," the source said.
Dealers said it was the first time BPMIGAS had offered Geragai through
a quarterly tender.
Its partners in the North Geragai field, China's Petrochina and
Malaysia's Petronas, sell their stake through term contracts and
sometimes on the spot market.
-----------------------------------------------------------
China CNOOC to announce Malaysian LNG deal shortly
BEIJING, September 18 (Reuters) - China National Offshore Oil Company
is expected to announce a multi-billion-dollar deal to buy liquefied
natural gas (LNG) from Malaysian state oil company Petronas in about a
week, a senior industry official close to the situation said on
Monday.
CNOOC was awaiting government approval before announcing the deal to
supply LNG to a planned import facility in the Chinese financial hub
of Shanghai, said the Beijing-based official, who requested anonymity.
"Wait for about a week," the official said.
The news comes after the Financial Times on Monday quoted CNOOC
President Fu Chengyu as saying the company had secured a deal with
Petronas but had yet to announce it.
The newspaper quoted industry officials as saying the price was about
$5-$6 per million British Thermal Unit (mmBTU), above previous deals,
but below spot market prices of $9-$11 per mmBTU.
CNOOC will also announce a long-awaited final pact with Indonesia,
said the official, months after Jakarta said parties had agreed to
raise the gas price to an oil-equivalent of $38 a barrel versus a
previous $25.
The Indonesia gas, from the BP -operated Tangguh field, would feed
China's Fujian terminal on the southern coast.
The deals, the first in CNOOC's renewed drive to secure supplies for a
string of import projects on China's seaboard, shows that Beijing is
facing the market reality of stronger gas prices to meet surging
domestic demand for the cleaner fuel.
CNOOC, parent of listed CNOOC Ltd , started up the country's first LNG
terminal in southern Guangdong province in June. It has plans to build
another four projects in Fujian, Shanghai, Ningbo Zhuhai by around
2010.
In total, CNOOC could need to buy 18 million tonnes of LNG a year,
near the imports into South Korea, the world's second-largest buyer of
the super-cooled gas after Japan.
------------------------------------------------------------
Asia-Pacific Crude-Direction uncertain for Nov
SINGAPORE, September 18 (Reuters) - Direction was uncertain for
November light sweet Asia-Pacific crude as middle and light
distillates were coming under increasing pressure, but the Tapis/Brent
spread narrowed, which could bring support to regional grades, traders
said on Monday.
"It is still a bit unclear about November at the moment, " a seller said.
Middle and light distillates, of which light sweet Malaysian and
Australian grades have a high yield, were struggling as demand across
Asia was falling while supplies remained high, traders said.
Refinery cuts, with some 160,000 barrels per day offline in Asia,
would lead to tighter products supplies, and stronger prices in the
medium term. But in the short term, they were only likely to pressure
the spot market as Asian refiners lift more of their requirements on
term contracts and can only cut their spot purchases.
But at the same time, the Tapis/Brent Exchange of Futures for Swaps
(EFS) has retreated from its strong levels of $5 and above fetched for
October.
The November Tapis/Brent EFS was seen at around $3.90 a barrel, which
could help differentials, if Tapis APPI assessments, the benchmark for
most light sweet crude in Asia, fall in line this week, too.
Indonesia's oil and gas regulator BPMIGAS has issued a tender to sell
200,000 barrels a month of Geragai condensate during the fourth
quarter of this year, a company source said. The tender closes on
Thursday [ID:nSP212219].
Vietnam's state-oil marketer Petechim has issued a tender to sell up
to 1 million barrels of sweet, medium heavy Su Tu Den crude for
loading in November, a trader said. The tender closes on Wednesday,
with bids to remain valid until Thursday [ID:nSP166305].
Petechim has also issued its monthly tender offering up to 1 million
barrels of Rang Dong crude for November loading, a trader said. The
tender closes on Tuesday and bids remain valid until Wednesday
[ID:nSP122683].
ICE Brent <LCOc1> rose 12 cents to $63.45 a barrel at 0926 GMT, down
about 10 cents from the close of Asian trading on Friday.
-------------------------------------------------------------
Japan's Intl Finance Bank To Help Build Indonesian Power Plants
SINGAPORE, September 19 (Nikkei)--The Japan Bank for International
Cooperation (JBIC) is set to sign an agreement Tuesday with the
Indonesian government to help finance the construction of
private-sector power generation facilities in that nation, The Nihon
Keizai Shimbun learned Monday.
The JBIC will tie up with other financial institutions to arrange
syndicated loans for private independent power companies. Under the
agreement, the Indonesian government will assist its state-owned power
utility in fulfilling agreements to buy electricity from independent
operators. This will effectively guarantee that the independent
operators will be able to repay the loans.
This is the first time the JBIC has participated in such an
arrangement, and it hopes to use the same scheme to build social
infrastructure in other developing countries.
The JBIC is expected to ink its first financing deal under this
arrangement next spring.
The deal represents a policy shift for the Indonesian government,
which had resisted guaranteeing debt obligations for
private-sector-led infrastructure projects.
Most power plants in Indonesia are fueled by coal, with a small,
500-megawatt-level facility costing roughly 60 billion yen to build.
Last year, the nation supplied 24,000 million watts, but with demand
growth averaging 7.2% a year, annual electricity demand there is
expected to rise to 100,000mw in 2025.
(The Nihon Keizai Shimbun Tuesday morning edition)
--------------------------------------------------------------
Indonesia Antam to restart third smelter in Oct
JAKARTA, September 19 (Reuters) - Indonesian state-run mining firm PT
Aneka Tambang Tbk said on Tuesday it planned to restart its third
ferro-nickel smelter FeNi 3 on Oct. 10 after a three-month shutdown
for repairs.
Antam shut the smelter in early July to repair a leak from a metal tap
hole at the bottom of the furnace.
"With the restart of FeNi 3 in Oct. 10, we hope to meet this year's
output target of 13,000 to 16,000 tonnes of ferro-nickel," Aditya
Sumanagara, Antam's president director, told Reuters
The FeNi 3 smelter has an annual capacity of around 15,000 tonnes of nickel.
The company had initially targeted production of 19,000 tonnes of
ferro-nickel, a raw material for stainless steel, but later lowered it
to 13,000-16,000 tonnes because of the temporary shutdown of the third
smelter. Antam also operates two smelters in Sulawesi island with a
total output capacity of 11,000 tonnes.
--------------------------------------------------------------
Indonesia Bakrie To Build 100,000 MT/Yr Biodiesel Plant
JAKARTA, September 18 (Dow Jones)--Indonesia's Bakrie Sumatera
Plantations (UNSP.JK) plans to build a biodiesel plant capable of
producing around 100,000 metric tons annually, an executive said
Monday.
Construction of the plant - worth around $25 million - will begin next
year, and production is scheduled to begin in 2008, Bobby Gafur Umar,
president director of parent company Bakrie & Brothers (BNBR.JK), told
reporters.
Bakrie Sumatra also hopes to boost its crude palm oil output by up to
37.5% by the end of this year, Umar said.
Bakrie Sumatera hopes to increase its oil palm plantation area by
5,000 hectares and complete a new CPO refinery,Umar said, without
elaborating on how much CPO the company would produce. [ 18-09-06
0756GMT ]
Also Monday, Umar told reporters that Bakrie & Brothers will next year
begin building a pipeline to transport natural gas from the eastern
Indonesian province of Kalimantan to Java island, with its completion
scheduled for 2009.
The 1,219-kilometer natural gas pipeline project is expected to
channel between 700 million to 1 billion standard cubic feet of
natural gas a day, local newspaper Bisnis Indonesia reported in July.
Bakrie & Brothers will outlay around $180 million out of a total
projected cost of $1.26 billion in capital expenditure on the pipeline
project next year, Chief Financial Officer Yuanita Rohali told
reporters.
Bakrie & Brothers won a tender to build the pipeline in July.
The company plans to raise around $300 million to fund expansion and
other projects via bank loans or dollar bond issuance, Rohali said,
adding that it is considering Credit Suisse as underwriter for the
possible bond issuance.
Bakrie & Brothers is a diversified holding company controlled by the
Bakrie Group.
----------------------------------------
Wall Street Journal
September 20, 2006
Idemitsu Prepares Listing
Japanese Oil Refiner
Seeks US$916 Million
To Back Energy Deals
By MARI IWATA
Dow Jones Newswires
September 20, 2006
TOKYO -- Japanese oil refiner Idemitsu Kosan Co. aims to raise at least 108
billion yen, or about $916 million, to fund energy investments in what is
expected to be one of Japan's biggest initial public offerings of stock this year.
The Tokyo-based refiner will offer 11.52 million new shares at an indicative
price range of 9,500 yen a share and list on the Tokyo Stock Exchange on Oct.
24, the Tokyo bourse said.
The company will offer 7.72 million shares in Japan and 3.8 million shares
overseas.
Idemitsu Kosan is one of Japan's biggest refiners, with capacity of 640,000
barrels a day. It plans to invest 300 billion yen in the four years to March
2009 to develop oil, coal and uranium fields, among other projects.
Hirofumi Kawachi, an analyst with Mizuho Investors Securities Co., said:
"Idemitsu has been enhancing its investment in energy fields such as uranium and
coal over the past few years. The company is having to raise more funds as
energy stakes have become expensive."
Daiwa Securities SMBC Co., the lead underwriter of the offering, has an
overallotment option to sell an additional 1.16 million in the event of exceptional
demand.
Based on the indicative price, the option would increase the total size of
the global offering to about 120 billion yen.
Nomura Real Estate Holdings Inc., which will make its debut on the Tokyo
Stock Exchange on Oct. 3, is raising at least 130 billion yen, based on that
offering's indicative price range.
Idemitsu will announce a tentative price range for the shares on Oct. 1 and
seek orders from investors from Oct. 3 to Oct. 13. The offering price will be
announced Oct. 16.
For the current year through March, the company forecasts a group net profit
of 30 billion yen, pretax profit of 81 billion yen, sales of 3.58 trillion
yen, earnings per share of 772.35 yen and a dividend of 110 yen a share.
Last fiscal year, the company posted a group net profit of 27.39 billion yen,
pretax profit of 70.83 billion yen, sales of 3.327 trillion yen, earnings per
share of 1,289.85 yen and a dividend of 55 yen.
--Kazuhiro Shimamura contributed to this article.
-----------------------------------------
Petromindo Headlines, Wed.,
Sept. 20, Tuesday, Sept. 19, 2006
Oil/Gas:
Wed., Sept. 20:
- Pertamina submits Gresik-Semarang pipeline
construction performance bond
- Govt allows Lapindo to dump mud into the sea
- Pertamina cuts Pertamax prices by 14 percent
Tues., Sept. 19:
- BP Migas to penalize 16 'failed' contractors
- Pertamina convict to be jailed soon
- Pertamina likely to import LPG containers
- JOB Pertamina-Indelberg drills six more
oil wells in S. Sumatra
- Subsidized fuel quota fixed at 37.9m kl
in 2007 state budget
- Regional LNG: CNOOC signs gas supply
deal with Petronas
Mining:
Wed., Sept. 20:
- Bumi Resources gets $1.2 billion loan
[see above story]
Tues., Sept. 19:
- Singapore's Penton cancels plans
to develop Jambi coal mine
- Manhattan, Wahana Baratama agree
to extend coal conveyor system study
- Release: Oropa: High grade mineralisation
discovered at Tambang Ubi
- IMA wants to be involved in discussing
mining closure
- Six percent royalty for low rank coal
contractors: Official
- Banpu looks to expand business: Report
Power:
Wed., Sept. 20:
- Siemens eyes re-powering of Muara Tawar
and Tanjung Priok power plants
Tues., Sept. 19:
- Govt extends deadline for power plant bidding
------------------------------------------
Joyo Indonesia News Service
------------------------------------------
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