State-owned PT Pertamina (Persero), through its subsidiary PT Pertamina Power Indonesia (PPI) continues to work towards contributing to the Government’s 35.000 MW electrification target. PPI will begin the construction of the steam-powered plant (PLTGU) Jawa 1 with the capacity of 1,760 megawatt (MW) on Dec. 19, 2018.
Read MoreMost listed shipping firms have reported better earnings this year. Low and controlled inflation, also a stable rupiah helped the shipping industry. The recent depreciation of local currency against the U.S. dollar, however, are forcing shipping firms to focus on efficiency.
Read MoreJanuary WTI crude oil on Tuesday dropped 7.30% to U$46.27 a barrel and February Brent crude fell 6.07% amid concern about higher global supply. While Nymex’s crude oil rose 0.17% to US$46.32 per barrel. The EIA forecast that U.S. Jan shale-oil crude production will climb to 8.166 million bpd, up 1.7% m/m from 8.030 million bpd forecast for December.
Read MoreGlobal equity markets dipped on Tuesday (Dec. 18) as nervous investors awaited indications on whether the Federal Reserve (the Fed) would be able to raise interest rates much further amid the turbulent markets and a weakening outlook for the global economy, Bloomberg reported. Energy stocks weighed on the U.S. market as oil price declines deepened.
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