United Tractors’ May Data: Signs of Recovery?
United Tractors (UNTR) has just released operational data for May 2015. Pamapersada Nusantara, coal mining contracting subsidiary of UNTR, produced 9.1 million tons of coal in the month, an increase of almost 10% from April, even though it was still below May 2014.
The 35,000 MW Program: Progress So Far…
Minister of energy and mineral resources Sudirman Said reported significant progress of the ambitious 35,000 MW program plus 7000 MW projects carried over from SBY administration to President Jokowi on Thursday (June 25), including land acquisition and financing.
Have Commodities Bottomed Out?
The benchmark September 2015 contracts of crude palm oil (CPO) settled significantly higher by more than 2% to RM2271 per ton Wednesday (June 24) on Bursa Malaysia Derivatives as Brent crude oil stays above US$64 per barrel.
Q&A with Apexindo Pratama
Apexindo Pratama Duta (APEX) is one of oil and gas supporting services companies servicing the giant Mahakam Block in East Kalimantan. Unlike others, APEX reported revenue growth of 5.7% in the first quarter of 2015. Its net loss, however, ballooned 322%.
Growing Interests in 35,000 MW Program
Some, including controversial economic observer Faisal Basri, consider President Jokowi’s 35,000 MW is a daydream. Others, however, continue to give their support, believing it is within reach. Adaro Energy (ADRO), for example, is now on its way to implement the MoU signed with China Shenhua last year with 2×300 MW coal-fired power plant project in East Kalimantan.
Palm Oil Journal No. 36/2015: Strong Output Caps Price Recovery
The benchmark September 2015 contracts of crude palm oil (CPO) ended slightly lower by RM1 to RM2219 per ton on Bursa Malaysia Derivatives Tuesday (June 23) as two of the world’s largest producers reported strong output growth last month.
Mahakam Block Extension: Finally…
Pretty much as predicted, Jokowi-Kalla administration has agreed to keep Total and Inpex Corporation in the giant offshore Mahakam Block in East Kalimantan, even though with significantly reduced ownership. On Friday, June 19, energy and mineral resources minister Sudirman Said announced the government’s decision on this delicate issue, which has been delayed for many years.
Coal Journal No. 34/2015: Close to Floor?
OPEC basket price of oil already gained 37% from its bottom in January 2015. For almost two months now, the commodity stayed above US$60 per barrel, boosting hopes for some that oil won’t fall to US$20. Thermal coal, on other hand, seems not bottoming out yet.
New Equity to Watch: Merdeka Copper Gold
PT Merdeka Copper Gold (MDKA) Tbk will kick off trading of its shares on Indonesia Stock Exchange (IDX) Friday (June 19) with market capitalisation of Rp6.1 trillion. The IPO is interesting amidst weaknesses in gold and copper market and broad market corrections.
Q&A with Energi Mega Persada
Shares of Energi Mega Persada (ENRG), an oil and gas company controlled by Bakrie Family, closed lower by 1.7% to its all time high of Rp58 on Wednesday (June 18) ahead of the placement of shares to ‘foreign investors’. Shareholders have approved the issuance of new shares yesterday.