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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, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
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- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
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