Oil and Gas Journal: Small Players
Energy and property company PT Ratu Prabu Energy Tbk has on Monday (May 25) signed a memorandum of understanding with PT Odira Energi Persada to acquire Karang Agung block in South Sumatra province.
Nickel Smelters to Watch (2): Berkat Resources
PT Berkat Resources Indonesia plans to build nickel pig iron (NPI) smelter in Bombana, Southeast Sulawesi. The company plans a small smelter producing only around 10,000 tons per annum of NPI. The group behind the company, however, has the capacity to become a more substantial player in the industry.
Coal Journal No. 30/2015: Golden Energy & Delta Dunia
Arch Coal and Peabody Energy collapsed 12.41% and 6.1% respectively in New York last night as WTI crude oil retreated by more than 3% to US$57 per barrel on Nymex. BHP Billiton followed with almost 2% fall in Sydney this morning. Rio Tinto and Whitehaven also down more than 1% each on ASX Wednesday.
Palm Oil Journal No. 30/2015: Stronger Output
KPB Nusantara, the joint marketing office of state plantations, sold seven out of nine CPO packages (10,500 tons) auctioned off Tuesday (May 26) at Rp8530/Kg (10% VAT included), lifted by falling rupiah and higher prices in the futures market. Further appreciation of USD and downfall of commodities last night, however, might cap further gains.
Faisal Basri vs Hatta Rajasa & Suryo Sulisto on Bauxite
Faisal Basri, who gains public support for his works leading to the closure of Petral (trading arm of Pertamina), launched new war Monday (May 25). The economist openly pointed his fingers to Hatta Rajasa and Suryo Sulisto behind the ban of export of mineral ores, including bauxite.
Mining & Heavy Equipment: No Sign of Improvement
PT United Tractors (UNTR) Tbk’s Komatsu sold 203 units of equipments last month, dropped 44.5% from the same month of 2014, mainly due to continuing downfall of sales to mining industry.
Gulf Manganese & The Timor Smelter Project
ASX-listed Gulf Manganese Ltd revealed this morning its findings from the Timor Smelter Study regarding the development of a smelting facility to produce high carbon ferromanganese alloys in Timor Island, Indonesia.
Nickel Smelters to Watch: Bintang8
First unit of nickel smelter developed by Bintang Delapan Group and its Chinese partner will soon enter commercial production. President Joko ‘Jokowi’ Widodo is scheduled to inaugurate the smelter in the coming weeks or so.
Blackgold Natural & Indonesian Power Project
PT Samantaka Batubara, subsidiary of SGX-listed Blackgold Natural Resources Ltd has on May 21, 2015 entered into a non-binding memorandum of understanding with PT Nari Indonesia Forever for the development of coal-fired power plant in Indonesia.
First Oil-Gas Blocks Granted by Jokowi-Kalla Regime
The government has just signed production sharing contracts for 12 oil and gas blocks, consisted of eight conventional and four non-conventional blocks. This is the first batch of blocks granted out to various companies by Jokowi-Kalla administration.