Tag: Lion Energy

Update on Oil & Gas Blocks

On Wednesday (Sep. 12) world oil prices extended Tuesday’s $2 surge, with Brent futures closing in on US$80 a barrel as Hurricane Florence advanced and U.S. sanctions started weighing on Iran’s exports, Reuters reported. News that Iranian crude exports have begun to decline well ahead of U.S. sanctions in November have been supporting prices in recent days as well. Nymex’s crude oil rose 0.87% to US$69.85 per barrel on Wednesday.

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Oil and Gas Journal

President Joko ‘Jokowi’ Widodo has signed Government Regulation No. 53/2017 about tax for gross split scheme in oil and gas business. This regulation is expected to boost investment in the sector even though some shared doubts. Other than the new regulatory framework, rally of crude oil might make 2018 a more promising year for investments.

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