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Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH


Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact on the operations of the country's upstream oil and gas (O&G) companies.

The ruling does not impact existing upstream contracts made under BP Migas since its establishment in 2002, as these are not invalidated by the court ruling.

Furthermore, the regulatory functions of BP Migas have been transferred to the Ministry of Energy and Mineral Resources with immediate effect.

Fitch believes that the immediate impact of the ruling is limited to possible delays on completion of contracts for oil and gas exploration, development and production that were under consideration at the time of BPMIGAS's dissolution, including both new and contract extensions.

Although upstream operators are not materially affected by this development, the ruling highlights regulatory and legal risks in Indonesia, especially in the natural resources sector. Fitch already incorporates a higher level of regulatory risk than other jurisdictions when assessing the credit quality of Indonesia resources companies.



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Recent News

Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...


Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended  0700 hours 3 December 2012, Newca ...


Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1  2013 delivery gained 2.87 & 0.83 percent MoM and WoW  respectively ...


Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer. The BDI was down 0.37 pct closing at 1,086 ...


Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...


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