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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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- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- GMR Energy Limited - India
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