Palm Oil Below US$400: Felda-BWPT Deal?
The benchmark November contracts of crude palm oil (CPO) dropped more than 3% to RM1915 per ton (US$456 per ton) on Bursa Malaysia Derivatives Monday (Aug 21) due to the global rout in financial market and commodities. September contracts were settled at RM1844 per ton as output seems to have grown further in July.
YTL Power & Indonesian Projects
YTL Jawa Energy BV, a company controlled by Malaysian power generation company YTL Power, has acquired 80% shares of PT Tanjung Jati Power Company (TJPC) from Bakrie Group for cash consideration of US$2 million. TJPC, as you know, was granted the Tanjung Jati A coal-fired power plant project by Soeharto regime in 90s.
Palm Oil Closer to US$400 (2)
The benchmark November contracts of crude palm oil (CPO) dropped further by 3% to RM1927 per ton on the Bursa Malaysia Derivatives this morning, while October contracts fell RM60 to RM1901 per ton, to tracking global rout of commodities and responding higher stockpiles in Indonesia and Malaysia.
Food Security Issues (1): CORN
Corn, by far, is the second most important cereal crop in Indonesia after rice. In a bid to boost food security, one of important targets of Jokowi-Kalla administration, ministry of agriculture targets corn output of 21.35 million tons next year.
Farm-In/Out of Tuna Block: KrisEnergy?
Tuna Block is one of offshore oil and gas blocks located in the border of Indonesia, Malaysia, and Vietnam operated by UK-listed Premier Oil Plc. The government of Indonesia awarded the block to a consortium led by Premier Oil back in March 2007.
Bet on Coal Shares
Composite index of Indonesia Stock Exchange (IDX) collapsed 2.4% Friday (Aug 21) on broad market sentiment as foreign investors continued their selloffs with net sell of Rp770 billion. Shares of some coal producers, however, were among few gainers of the day despite reports about lower coal prices in Australia following devaluation of yuan.
Revitalisation of Tuban Petrochemical
The Government has decided to appoint state-owned oil and gas company Pertamina as operator of the troubled aromatic centre of PT Trans Pacific Petrochemical Indotama (TPPI) in Tuban, East Java. Operation of the petrochemical centre, which also has refinery unit, will be resumed immediately despite legal issues and investigation into its former controlling shareholder Honggo Wendratmo.
Oceanwide & Indonesian Power Projects
China Oceanwide Holdings Ltd, a company listed on HKSE, plans to restructure its ownership in Indonesian power plant project. Under the internal restructuring, China Oceanwide Power Investment I Limited acquires 60% shares in the coal-fired power plant project for US$37.09 million.
Palm Oil Journal: Closer to US$400
The benchmark November 2015 contracts of crude palm oil (CPO) dropped further by RM35 to RM2000 per ton on Bursa Malaysia Derivatives Thursday (Aug 20) as investors were worried about milder impact of El Nino to major producing areas in Indonesia amidst weak demand from China and India.
10% Participating Interest in Oil & Gas Blocks
Minister of energy and mineral resources Sudirman Said has on Thursday (Aug 20) handed over 10% participating interest in two oil and gas blocks in West Java and Central Java province to respective governors. Still, there are many questions remained unanswered, especially financial aspects of the ‘mandatory farm-out/farm-in’ to the State and existing interest holders.