Oil and Gas Journal No. /2015: A Stronger Pertamina, Weaker SKKMigas?
Team to Reform Oil and Gas Governance has recommended the appointment of state-owned oil and gas Pertamina as an agency responsible for marketing of the State’s share of oil and gas production. Such recommendation is related to a separate plan to change SKKMigas into a special state-owned company (BUMN Khusus).
Palm Oil Journal No. 14/2015: Export Duty
Indonesian government plans to change its policy on export tax of crude palm oil (CPO) after more than six months generating no revenue due to falling prices in international market.
Benakat Petroleum: Bakrie & Soeryadjaya (II)
SGX-listed oil and gas explorer Interra Resources Ltd, controlled by Edwin Soeryadjaya, initially agreed to pay US$78.5 million for PT Benakat Petroleum, subsidiary of Benakat Integra (BIPI), which controls West Benakat KSO. That was in September 2013, when oil was hovering above US$100 per barrel.
Coal Journal No 14/2013: Financing Appetite
Shares of coal producers were mostly in green Thursday morning even though WTI crude oil hovers around US$48 per barrel. Whitehaven Coal Ltd led with 4.5% gain on ASX after securing A$1.4 billion refinancing facilities. Also in this report: Pan Asia, Kangaroo Resources, Killara Resources, etc.
J Resources vs Provident Minerals on Pani Gold Project
Conflicts at KUD Dharma Tani Marisa, which holds concession for Pani Gold Project in North Sulawesi, continued. Two conflicting groups held separate meetings on January 27 and March 2nd, 2015 respectively.
Adaro Energy: FY14 Results & Outlook
Adaro Energy (ADRO), second largest coal producer in Indonesia, booked net profit of US$178.16 million last year, declined by 23.85% from 2013 due to falling prices and higher finance costs.
Discrepancies in The Expired Oil and Gas Blocks
Lots of people continue to ask what kind of decision the government will make on Offshore Mahakam Block or whether the decision will apply to other blocks to expire in the coming years. We are not in a position to give you a straightforward answer, because there is no such thing when it comes to resources industry here.
Bakrie-Paloh Scheme Haunts Policymakers on Local Govt Interest in Oil-Gas Blocks
A team to reform governance in oil and gas sector led by economist Faisal Basri recommended an end to 10% participating interest for provincial and regency/municipality administrations in the country’s oil and gas blocks via amendment of oil and gas law. Some high-ranking government officers, including minister of energy & mineral resources Sudirman Said, seem to agree.
Domestic Coal Play
News about China’s plan to cut thermal coal consumption of 160 million tons in the coming years has practically ended rally of coal prices in the seaborne market recently. The world’s largest consumer of coal would continue to shift to cleaner energy sources, including natural gas. Combined with higher supply from Australia, Indonesian coal producers expect domestic market would absorb more.
Palm Oil Journal No 13/2015: Market & Corporate Results
The benchmark May contracts of crude palm oil (CPO) gained RM16 to RM2304 per ton on the Bursa Malaysia Derivatives this morning, lifted by recovery in crude oil and lower output of CPO in both Indonesia and Malaysia.