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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- White Energy Company Limited
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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