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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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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
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