Petroleum / Mining in Indonesia
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INDONESIA, 2015/07/27
The government will postpone a plan to increase royalty payments from coal miners as they are by instantly burdened with the commodity’s plunging price, a top official has said.
The decision was based a government review in which it found that the low world coal price had prompted ongoing losses for coal miners in Indonesia, one of world’s major producers of the commodity.
“The government decided to review the plan based on the current situation and price,” Energy and Mineral Resources Ministry’s director general for mineral and coal, Bambang Gatot Ariyono, said last week.
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INDONESIA, 2013/06/11
A total of 12 foreign oil and gas cooperation contractors (KKKS) have absorbed losses of $1.9 billion next an exploration failed to yield any significant discoveries.
“The exploration drilling in 25 wells cost around $1.9 billion and, up to presently, they have not found a commercial oil and gas reserve,” Aussie B. Gautama, deputy of controlling and planning at oil and gas regulator SKKMigas, said on Tuesday.
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INDONESIA, 2013/03/28
Indonesia, currently a net importer of both crude oil and its refined products, will start offering shale gas blocks this year in a bid to unearth the potential of unconventional gas in Southeast Asia’s major economy.
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INDONESIA, 2013/02/14
Indonesia, Southeast Asia’s main oil producer, aims to reap additional crude oil output of around 121,000 barrels per day (bpd) by the end of 2013 from several planned drilling activities on developing basins and work-over campaigns on mature fields.
The country’s upstream oil and gas regulatory special task force SKKMigas head, Rudi Rubiandini, said that around 1,178 development wells would be drilled this year by oil and gas contractors.
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INDONESIA, 2013/01/18
Indonesia's national-owned oil and gas company PT Pertamina has acquired ConocoPhilips Algeria Ltd., controlling a block in the country with a price of 1.75 billion U. S. dollars, a top official of Pertamina said here Wednesday.
President Director of PT Pertamina Karen Agustiawan said in a statement issued Wednesday that the acquisition of Block 405a was expected to boost the company's oil production by 23,000 barrels per day.
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INDONESIA, 2012/12/31
Indonesia expects to generate oil and gas revenues to the tune of $36 billion by the end of 2012, which is higher than the initial target by 8%.
“Initially, the national revenue from the sector was projected at $33.48 billion, which means the realization of $36 billion in revenue is 108 % of the original target,” country’s Energy and Mineral Resources Minister Jero Wacik told Jakarta Post.
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INDONESIA, 2012/12/25
The Indonesian subsidiary of British oil giant BP on Monday said a US$12.1 billion transaction to expand its liquid natural gas operations in the country had been given final approval.
The transaction, announced last month during President Susilo Bambang Yudhoyono's national visit to London, will allow BP to develop a third liquefied natural gas (LNG) liquefaction train at its Tangguh project in West Papua province, according to a statement from BP Indonesia.
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INDONESIA, 2012/12/25
Despite having the ability to increase subsidized fuel prices without first discussing it with lawmakers next year, the Indonesian government is unlikely to do so and instead has urged the country's regulator to tighten its control over the distribution of fuel.
National Development Planning Minister Armida Alisjahbana told The Jakarta Post recently that although under the 2013 National Budget Law the government was allowed to raise the price of premium gasoline, her office would rather recommend that downstream oil and gas regulator BPH Migas capitalize on its supervision of fuel consumption.
“The significant thing is to manage the fuel consumption so it will not supersede the quota, inclunding ensuring (the subsidized fuel) is used only by those who need it,” she said in Jakarta.
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INDONESIA, 2012/12/11
The National Police and the Energy and Mineral Resources Ministry warned on Wednesday of a potential rise in confl icts between miners and local communities following the detection of 900 violent hot spots across the archipelago.
Soaring illegal mining activities and the improper granting of mining permits and procedures are cited as the reasons driving these disputes.
