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Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
 The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the realization of private investment in the sector through various programs and regulations.
“Increasing production has been our concern and challenge. We must accelerate investment realization in exploration production and in infrastructure both for storage and distribution,” Darwin said during his inauguration ceremony Thursday.
The government initially expected to book up to US$25 billion investment in the sector, but later on the target was revised down to $18 billion due to the global crisis.
“I will continue what good aspects have been achieved and improve what needs to be improved,” Darwin said.
As a new minister, Darwin will be challenged to get the energy and mining sector to contribute more than 30 percent of the state revenue. In the oil and gas sector, he must work hard to anticipate declining oil production due to aging fields.
As for the mining sector, he must convince investors to comply with the enactment of the new mining law. He is also expected to solve the country’s increasing power deficit problem.
“We face tough challenges, but with good will and cooperation I am optimistic that we can triumph.”
Darwin is head of economic division at President Susilo Bambang Yudhoyono’s Democratic Party. His appointment as the energy and mineral resources ministry was unexpected to practitioners and analysts alike as he is relatively unfamiliar to the sector.
“To be honest, I was not aware of him before, but I expect he will do the best for the ministry,” said a ministry’s high-ranking official who refused to be named.
Energy analysts voiced similar arguments.
“I never heard any of his views on how to manage the sector.
But, hopefully with his doctorate in economics he can learn fast about urgent problems in the sector and will come up with accurate solutions,” energy analyst Kurtubi said.
Observer Pri Agung Rakhmanto of the Reforminer Institute said Darwin might need support from experts in the sector.
Former energy and mineral resources minister Purnomo Yusgiantoro said he believed Darwin could lead the ministry.
“He has a very strong educational background,” said Purnomo, now the new defense minister. In an earlier interview, Darwin said he was not a totally new face in the sector.
“In my early career at Bank Duta, I was in charge of lending credits to oil and gas companies. I know the business network from this experience.”
Darwin, born on Oct. 29, 1960, graduated from the University of Indonesia’s (UI) Economics Faculty in 1986 and later completed his masters study on business administration at Middle Tennessee State University, US, in 1994. This year he completed his doctorate program on finance and management, also at UI.
His employment history includes: dean’s senior advisor at UI’s economics faculty from 2006 until present, head of the economic and finance division of the Democratic Party from 2005 until present, deputy dean of UI’s faculty of economics from 2005 to 2006 and chief economist and investment banking director at PT Bahana Securities from 2000 to 2003.
Source: The Jakarta Post
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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Ind-Barath Power Infra Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Deloitte Consulting - India
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- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
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- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
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- Goldman Sachs - Singapore
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- Trasteel International SA, Italy
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- The University of Queensland
- Merrill Lynch Commodities Europe
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- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
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- Manunggal Multi Energi - Indonesia
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- Ministry of Mines - Canada
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- Siam City Cement PLC, Thailand
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- Parliament of New Zealand
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- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- The Treasury - Australian Government
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- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
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- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
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- Minerals Council of Australia
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- Indogreen Group - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
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- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
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- Indian Oil Corporation Limited
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- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
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- Dalmia Cement Bharat India
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- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
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- Star Paper Mills Limited - India
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- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
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- Electricity Generating Authority of Thailand
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- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
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- GVK Power & Infra Limited - India
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- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
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- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
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- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
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- Latin American Coal - Colombia
- Interocean Group of Companies - India
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