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Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
 The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 2009 law on environment for two year on fears it will severely hit oil and gas production.
"We have spoken with the coordinating minister for the economy to delay the law for at least two years, so that we can prepare our technology," Evita Herawati Legowo, the director general for oil and gas at the Energy and Mineral Resources Ministry, said in Jakarta late Thursday.
Evita said that the mining companies were now working to adjust mining systems to comply with the law, which could take some time.
"Several contractors would prefer to stop their activities rather than breaking the rules which could mean criminal punishments," she said, adding that oil production could drop significantly due to process changes.
Evita said the Energy and Mineral Resources Minister Darwin Zahedy Saleh has sent a letter to the Coordinating Economic Minister to discuss the issue further.
"The decline in oil production might influence state revenue. So, we have to do something," she said.
Darwin acknowledged that the new law on the environment would be a serious challenge to mining contractors.
"The miners have to allocate additional budgets so that their mining systems protect the environment in the future," he said, adding that the government had to help the contractors, or oil production would drop.
Darwin insisted the government would fight it out to meet the oil production target by improving efficiency, for example, streamlining bureaucratic procedures to enable contractors to curb expenditure.
The new law requires business entities to secure environmental permits before beginning their operations. Permits can be issued by a minister, governor or regent, depending on the area of operation. A failure to secure environmental permits would result in the termination of the business license.
The Energy and Mineral Resources Ministry has said that the implementation of the 2009 environmental law would risk reducing national oil production by up to 40 percent.
This year, the government is targeting to produce 965,000 barrels of oil per day (bpd) as in the 2010 national budget. Last year Indonesia produced about 960,000 bopd.
Some observers have said that ambiguities in the environment law made it difficult for companies to fulfill environmental standards and guidelines set by the new legislation.
The ministry argued that state-owned oil and gas producer PT Pertamina and US based leading oil producer Chevron Pacific Indonesia (CPI) would be the two firms most effected by the new law.
Late Thursday Chevron general manager Bambang Pratesa confirmed the possibility that Chevron oil production could drop more 60 percent this year as the original company target for this year was to produce 400,000 bpd but instead a steep decline is now expected.
"The anticipated Chevron production will be fall to about 125,000 bpd, far down on our original target," Bambang told reporters. Oil and gas have traditionally contributed up to 30 percent of total state revenue.
Source: The Jakarta Post By: Nani Afrida
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
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