Palm Oil Journal: 2015 Target Price
Late last year, CIMB Investment Bank Bhd issued a report titled ‘Navigating Malaysia 2014’, predicting average CPO price to rise by 12% in 2014 to US$950 (RM3122/ton) per ton. We all know, however, average price of CPO in 11 months of 2014 was below RM2500.
Coal Journal: China & United Tractors Data
Shares of mining companies, including coal producers, gained in the region Monday on expectations of stronger demand following interest rate cut in China. But, the rally might be short-lived as those listed in US ended lower, while BHP Billiton retreated on profit taking this morning in Sydney.
Termination of BHP Billiton-Adaro Energy Project
Bisnis Indonesia newspaper reported this morning that ministry of energy and mineral resources might terminate the billion dollar coking coal project of PT IndoMet Coal, a joint venture between mining giants BHP Billiton (Australia) and Adaro Energy (Indonesia), in Central Kalimantan.
Mahakam Block: Scenarios & Interests
Acting director general of oil and gas Naryanto Wagimin revealed this week that the government will hand over the giant Mahakam Block to state-owned oil and gas company Pertamina after the block’s contract expired in 2017. Pertamina, however, is expected to keep existing interest holders as partners. What that means?
A More Vibrant Oil & Gas Industry (2)
Minister of energy and mineral resources Sudirman Said has decided to extend contracts of four oil and gas producing blocks: Pase, Gebang, Kampar, and Offshore North West Java (ONWJ). Two of them are related/controlled by Bakrie Group, whose owner is leader of opposition group called Red-and-White Coalition.
A More Vibrant Oil & Gas Industry
In the past few months, we have witnessed mergers and acquisitions of oil and gas assets in Indonesia. This morning, ASX-listed Cue Energy informed shareholders that it has executed a farm-in agreement in relation to Mahato production sharing contract (PSC) in Central Sumatra.
Benakat Petroleum: Bakrie & Soeryadjaya
SGX-listed Interra Resources Ltd, controlled by Edwin Soeryadjaya, has just revised down the post-tax NPVs of the West Benakat KSO associated with 2P reserve. Will it lead to another revision of acquisition price of Benakat Barat Petroleum—currently controlled by Bakrie’s Benakat Integra (BIPI)?
Palm Oil Journal: Rupiah & Output
On Wednesday, KPB Nusantara—the joint marketing office of state plantations, sold all six CPO packages auctioned off that day at Rp8390 (FOB West Kalimantan), Rp8585, and Rp8720 (FOB Belawan and Medan) per Kg (VAT 10%) respectively.
Revitalization of State Sugar Refineries
In a bid to achieve self sufficiency of sugar, ministry of agriculture is now working with ministry of state-owned enterprises to revive existing sugar refineries and build 10 new factories worth Rp42.5 trillion.
Sawit Sumbermas & Acquisition of Affiliated Assets
Palm oil producer PT Sawit Sumbermas Sarana (SSMS) Tbk has kicked off acquisition of shares in PT Sawit Multi Utama (SMU) and PT Tanjung Sawit Abadi (TSA) from PT Citra Borneo Indah for a combined consideration of US$129 million. That much?