[Kabar-indonesia] 15 oil/gas/mining reports: Pertamina; Medco/Apexindo; Billiton; Bukit Asam

[JoyoNews at aol.com]

15 oil/gas/mining reports:

- S Korea E1, Pertamina To Sign 
  Pact On US$150M LPG Project
- Indonesia Medco Energi Cancels 
  Plan To Sell Apexindo - CEO
- JP: Still a long way before biofuel 
  is on the market 
- BHP Warns Customers Of 
  Copper-Delivery Cuts [Mine Strike 
  in Chile Over a Wage Dispute
  Leaves Stockpiles Low]
- Pertamina Buys 1.8M Bbl Of
  Malaysian Crude In Tender
- Indonesia Net Crude Oil Imports
  28,000B/D Jul;Up Vs June
- Indonesia net crude importer for
  3rd month in July
- Indonesia sees steady 10 mln bbls
  Sept fuel imports
- Indonesia Pertamina Buys Extra
  600,000 Bbl Gasoline Aug
- Indonesian govt expected to protect
  oil/gas contracts
- South Korea's thirst for minerals
  spurs new funds
- Indonesia Natural Gas Pipeline 
  Project Gets $75M ADB Loan
- Indonesia's Bukit Asam sees 
  2006 coal sales at 10.5 mln tons 
  vs 9.9 mln
- Indonesia's RNI plans ethanol 
  factory for 2008
- Petromindo Headlines, 
  Thursday, August 10, 2006

S Korea E1, Pertamina To Sign Pact On US$150M LPG Project

SEOUL, August 10 (Dow Jones)--South Korea's E1 Corp. said
Thursday it plans to sign an agreement with Indonesia's state-run
Pertamina Friday to set up a joint venture for a gas-to-liquids project.

E1 and Pertamina will invest a total of US$150 million to set up a plant
that will convert natural gas into products such as LPG and naphtha in
Indonesia's South Sumatra Palembang region, the South Korean LPG maker
said in a regulatory filing.

The companies will each have a 50% stake in the planned joint venture,
but haven't finalized how to finance the investment for the new plant,
Jeon Jin-Man, a spokesperson at E1 said.

Once commercial production begins in 2010, the plant will produce
320,000 tons of LPG a year for the next 15 years, to be sold in
Indonesia and Korea, the spokesperson said.

Officials at Pertamina were not immediately reachable for comment.

E1, formerly known as LG Gas, accounted for about 20% of South Korea's
LPG market at end-March 2006.

-------------------------------------

Indonesia Medco Energi Cancels Plan To Sell Apexindo - CEO

JAKARTA, August 10 (Dow Jones)--Indonesian gas and oil producer PT
Medco Energi Internasional (MEDC.JK) canceled a plan to sell a 52.4%
stake in drilling unit PT Apexindo Pratama Duta (APEX.JK), Medco's
Chief Executive and President Hilmi Panigoro said Thursday.

"The drilling company is too strategic for our business now, so we
decided to cancel the stake sale plan," he told Dow Jones Newswires. [
10-08-06 0413GMT ]

Panigoro didn't provide further details.

In May, Medco confirmed India's Aban Loyd Chiles Offshore Ltd.
(523204.BY) had submitted an offer to buy a stake in Medco's unit
Apexindo Pratama Duta.

The confirmation came after Aban announced in early May that it was in
talks to acquire a 51.97% stake in Apexindo, or 1.35 billion shares,
for around $550 million.

At 0417GMT, Apexindo shares were down 4% at IDR1,680 on the Jakarta
bourse following the report of the canceled deal.

------------------------------------

The Jakarta Post
August 10, 2006

Still a long way before biofuel is on the market 

Novan Iman Santosa, The Jakarta Post, Jakarta

Imagine a world where a farmer could extract oil from his own crops, like 
palm, soy or peanut oil, and fill up the tank of his tractor. There would be no 
need to stop by at the gas station for petroleum-based fuels.

The farmer would neither run out of fuel -- so long as he was growing 
sustainable crops -- nor rely on conventional fuel, the price of which is sensitive 
to issues ranging from production cuts to political upheaval. 

Some people might say biofuel self-sufficiency is a utopian scheme, while 
others have demonstrated it can be done. 

In general, biofuel is any fuel that comes from biomass -- or living 
organisms or their metabolic byproducts. It can come from plants or cow manure, for 
example. 

Many people think the idea of developing biofuel is a new one, but in fact it 
has been around for more than a century. 

It is safe to say the venture started 113 years ago when German inventor 
Robert Diesel -- the inventor of none other than the diesel engine -- used peanut 
oil to fire an engine he built in Aupsburg, Germany. The landmark date -- Aug. 
10, 1893 -- has been declared International Biodiesel Day. 

Another great automotive pioneer, Henry Ford, pondered the use of gasohol -- 
a mixture of gasoline and alcohol -- in 1916 for three years. Alas, the 
Prohibition era made it unlawful to produce alcohol. 

Biodiesel and gasohol are the two most common forms of biofuel, especially 
regarding the internal combustion engines found under the hoods of cars. 

The efforts of both Diesel and Ford to develop biofuel never really took off 
as there was an abundant supply of crude oil back then. Low fuel prices have 
also helped keep the spotlight off biofuel. 

Nowadays, with declining oil production and ever increasing fuel consumption, 
the government has decided to promote biofuel to reduce soaring fuel 
subsidies. 

Indonesia might consider itself lucky to have been blessed with a vast 
fertile ground for the various crops required to produce biofuel. 

Some areas are suitable for corn or jathropa, while other regions are good 
for oil palm or sugarcane, tapioca and a host of other starch crops. If that is 
not enough, we also have vast waters suitable for the cultivation of algae, 
claimed to be the most efficient source of biodiesel. 

Several parties -- state agencies and private companies -- promoted 
biodiesel, from both crude palm oil (CPO) and jathropa, and gasohol during the 
Indonesian International Motor Show, which ended late July. 

On the other hand, however, we have to admit that oil palm is the most 
readily available source for biofuel both in biodiesel and pure plant oil (PPO) 
forms. 

Indonesia is the second-largest producer of CPO in the world after Malaysia. 
But keep in mind that Malaysian companies also have their oil palm estates on 
Indonesian soil. 

President Susilo Bambang Yudhoyono has offered Malaysian firms the 
opportunity to invest in biofuel, saying about six million hectares of land are 
available for the crops. 

The fact that Indonesia already has refineries scattered across the country, 
as well as the distribution network, is expected to lure investment. 

As for jathropa, its proponents say that it can be planted practically 
anywhere and it requires less attention than oil palm. But there have been only a 
few, if any, refineries extracting castor oil from jathropa seeds. 

The production of gasohol is not getting off to such a solid start as the 
crops are not that widely cultivated here. Indonesia is still importing sugar as 
the domestic production of sugarcane is not sufficient to meet local demand, 
let alone to supply material for gasohol. 

Farmers are also backing away from cultivating tapioca as the crop cannot 
provide a stable income. The price invariably drops during harvest time. 

Efforts to produce gasohol would certainly help farmers, not only those 
planting sugarcane and tapioca but also other starch crops. 

With so many options, we do not need a uniform program to cultivate only one 
or two crops. Farmers can choose what they want to grow, provided their soil 
is suitable. 

All the government needs to do is to maintain the price of the crops to a 
profitable level for the farmers to harvest, for the refineries to buy and 
process, and for the end customers to buy. 

However, since it is a long process, we can be sure that the price will not 
be much lower than that of petroleum-based fuels. 

Currently only state oil and gas company Pertamina is offering a biodiesel 
blend -- B5 -- at five fuel stations across Jakarta. Foreign companies may want 
to see further regulations set in place before launching their own biofuel 
products. 

Some companies also sell biofuel as an "additive", to be mixed manually by 
customers. 

Why should customers buy biofuel? 

Automakers have often said the government should offer tax incentives to 
promote eco-friendly fuels. 

Vehicles able to run on biofuel may still need some modifications to avoid 
mishaps. Gasohol, for example, is corrosive and some piping may need to be 
stainless steel on the inside. Biodiesel can cause rubber hoses to wear out earlier 
and it attracts water. 

Several carmakers have announced that some of their models can run on 
biofuel, while others are still studying biofuel. 

Reducing tax, however, will meet strong opposition from bureaucrats at the 
Finance Ministry, whose main duty is to fill up the state coffers. Unless we can 
provide them with figures showing a reduced need for petroleum-based fuels, 
thus reducing subsidies, which would mean reducing the current deficit. 

Although biofuel pioneers were also automotive pioneers, this does not mean 
biofuel is only of interest to private car owners. Operators of buses, ships 
and trains may also find it an interesting alternative. 

State power firm PT PLN should also give it a try, rather than using "dirty" 
coal to generate power. 

------------------------------------------

Dow Jones Newswires
Friday, August 11, 2006

BHP Warns Customers
Of Copper-Delivery Cuts

Mine Strike in Chile
Over a Wage Dispute
Leaves Stockpiles Low

By JAMES ATTWOOD 

SYDNEY, Australia -- BHP Billiton on Thursday said it is in talks with 
smelters in Asia and Europe about scaling back copper-concentrate deliveries, as 
stockpiles at its strike-hit Escondida operation in Chile reach low levels.

The strike, involving more than 2,000 workers, has forced BHP to cut output 
at the copper mine to 40% of capacity and tell customers the company can't be 
held responsible for breach of contract on concentrate deliveries.

"Concentrate stockpiles at Coloso are quite low," a spokeswoman for the 
Melbourne-based miner said, referring to the port from which Escondida ships its 
product to smelters in Japan, China and Germany.

"We'll need to discuss the implications on shipping schedules with our 
[concentrate] customers...we'll be talking about their requirements and what we can 
and can't deliver," she said.

Copper analysts said the market had expected a short-lived strike, based on 
management's determination to resume full production, and on Chile's track 
record of swift resolution to industrial action. But as the action stretched into 
its fourth day, analysts said management and union representatives seemed no 
closer to settling a wage dispute.

The benchmark London Metal Exchange copper contract was trading at US$7,970 a 
ton Thursday afternoon, down US$60 from Wednesday's close, while its Shanghai 
counterpart traded to its 4% upper limit Thursday as the strike fueled market 
confidence.

BHP, which controls Escondida with a 57.5% stake, was planning to resume 
talks with union representatives on Thursday after talks earlier in the week 
failed to bring an agreement.

BHP reiterated its intention to stick to its final offer of a 3% pay increase 
plus bonuses, compared with the union's 13% demands. "There is no new offer," 
the spokeswoman said.

A union representative said workers broke off talks, vowing to return to the 
table only "when they change their stance and really want to negotiate." In 
addition to the legally mandated end-of-conflict bonus, workers were seeking a 
bonus based on copper prices. The total wage increase being sought was nearly 
20%.

Rio Tinto PLC holds 30% of the mine, a Japanese consortium led by Mitsubishi 
Corp. holds 10% and International Finance Corp. owns 2.5%.

----------------------------------------

Pertamina Buys 1.8M Bbl Of Malaysian Crude In Tender

SINGAPORE, August 10 (Dow Jones)--Indonesia's state-owned Pertamina
(PTM.YY) has bought 1.8 million barrels of Malaysian crude oil for
October arrival in a recently-awarded tender, a company official said
Thursday.

The company bought two 600,000-bbl cargoes of Tapis crude, on top of
600,000 bbl of Angsi and Kidurong crude, the official said.

The company, which used to buy more than 4 million barrels of sweet
crude in monthly tenders, didn't buy any crude oil in tenders in June
and July, citing ample domestic supply.

-------------------------------------------------------

Indonesia Net Crude Oil Imports 28,000B/D Jul;Up Vs June

JAKARTA, August 10 (Dow Jones)--Indonesia's net crude oil imports rose
to 28,000 barrels a day in July from 13,000 b/d in June, a government
official said Thursday.

The official, who declined to be named, told Dow Jones Newswires that
the only East Asian member of the Organization of Petroleum Exporting
Countries exported 300,000 b/d of crude in July, down from 369,000 b/d
in June. Imports edged down at a slower pace to 328,000 b/d from
382,000 b/d.

The official didn't give further details.

Indonesia is struggling to reverse a steady decline in crude output to
30-year lows on a lack of new oil exploration.

-------------------------------------------------------

Indonesia net crude importer for 3rd month in July

JAKARTA, August 10 (Reuters) - Indonesia was a net importer of crude
oil for the third month in a row in July because of falling oil output
and higher processing by domestic refineries, an energy ministry
official said on Thursday.

Indonesia, the Asia-Pacific's only OPEC member, was also a net crude
importer in May and June, the first time since last August.

"Crude production continued to fall, while our refineries were running
at almost full capacity to secure domestic product supplies," the
official, who declined to be identified, told Reuters.

"That's why imports were higher than exports in July."

Indonesia's crude oil exports fell 18.7 percent to 300,000 barrels per
day (bpd) in July from 369,000 bpd in June, while crude oil imports
fell to 328,000 bpd in July from 382,000 bpd in June.

Indonesia's crude oil output fell to 887,000 barrels per day (bpd) in
July -- a 35-year low -- and down from 900,000 bpd in June, hit by
production problems in several oil fields and maintenance, an industry
source has said.

The source said Indonesian oil production was expected to increase in
August, when problems at production facilities in several oilfields
were resolved.

Indonesia has struggled to maintain production as the country has
failed to tap new oilfields fast enough.

Crude imports were cut back sharply in the second half of 2005 as
Jakarta moved to use more of its own crude domestically.

Indonesia imports crude for its refineries but normally exports
slightly more, effectively trading its domestic production for crude
more suitable to its plants.

The country has nine refineries with a combined capacity of around 1
million bpd, but they supply only about 70 percent of domestic oil
product consumption. The rest is imported.

Following are Indonesian crude oil import and export volumes,measured
in barrels per day:

Month                  Exports       Imports
2006
July                    300,000      328,000
June                    369,000      382,000
May                     267,200      275,000
April                   289,000      286,100
March                 314,400      130,300
February             366,000      166,600
January               322,600      234,400
2005
December           443,800      276,700
November          392,400      278,900
October              361,000      302,000
September          341,000      200,000
August               354,000      399,000
July                    345,000      273,000
June                   346,000      392,000
May                   305,000      442,000
April                 357,000      412,000
March               442,000      369,000
February           426,000      332,000
January             383,000      420,000
2004
(daily avg)        412,000      386,000

------------------------------------------------------

Indonesia sees steady 10 mln bbls Sept fuel imports

JAKARTA, August 9 (Reuters) - Indonesia will keep oil product imports
steady at around 10 million barrels in September, but will need to buy
an extra two or three cargoes of gasoline this month to replenish low
stocks, a Pertamina official said on Wednesday.
Inventories of the motor fuel now stand at 17.2 days worth of demand,
Hanung Budya, deputy director of marketing at Pertamina, told
reporters, forcing the state oil company to pursue additional imports
for August.

"Currently national oil product stocks are at 22.8 days and we will
maintain the current stocks at 22-23 days," Budya said. In mid-July
total stocks stood at about 23 days.

He also said Indonesia's domestic diesel inventories stood at a more
comfortable 23.7 days and kerosene stocks at 23.6 days. He said
Pertamina may also buy an extra cargo of kerosene.

Oil traders had expected August imports of about 10.5 million barrels,
including 2.8 million barrels of gasoline.

September's imports will include 2.4 million barrels of gasoline and 6
million barrels of diesel, Achmad Faisal, director of marketing at
Pertamina, said separately.

Last week Pertamina, Asia's biggest importer of gasoline and diesel,
cancelled an unexpected tender to buy 200,000 barrels of 92-octane
gasoline for prompt August delivery as no bidders met the tender
requirements, trading sources said.

Dealers have been waiting to see whether Pertamina would continue to
seek more supplies, lending support to prices.

The draw-down in inventories may suggest a pick-up in demand nearly
one year after Jakarta decided to double the subsidised prices of
gasoline, kerosene and diesel, cutting overall fuel consumption by
about one-fifth for months afterward.

But Pertamina has also been forced to boost imports -- which ran below
7 million barrels in the first part of the year -- as a result of
reduced output from troubled local refineries.

Its 120,000 barrel per day Dumai refinery and two secondary units were
still running at only around 70 percent capacity at the end of July,
nearly a month after first encountering a compressor problem,
officials had said.

In July, Indonesia imported about 12.7 million barrels -- the highest
since October, but marginally lower than last year's average monthly
volume of 12.86 million barrels.

-------------------------------------------------------------

Indonesia Pertamina Buys Extra 600,000 Bbl Gasoline Aug

JAKARTA, August 9 (Dow Jones)--Indonesia's state-owned oil and gas
company PT Pertamina (PTM.YY) is importing an additional 600,000
barrels of gasoline in August, so that stocks will be enough to cover
demand for 20 days, up from 17.6 days, an official said Wednesday.

However, Pertamina's Deputy Director for Marketing and Commerce Hanung
Budya declined to state the quantity of gasoline that was imported in
July.

In addition, Pertamina is importing 200,000 bbl of kerosene in August
after halting imports in May, because production of the fuel at its
refinery has slipped, Budya added without elaborating.

Before May, Pertamina imported around 600,000 bbl of kerosene a month.

Indonesia, the only Southeast Asian member of the Organization of
Petroleum Exporting Countries, has to import petroleum products as
demand has outstripped domestic output.

------------------------------------------------------------

Indonesian govt expected to protect oil/gas contracts

JAKARTA, August 9 (Asia Pulse/Antara) - The government is expected to
protect business contracts in the oil/gas sector that have been signed
as their cancellation would spoil Indonesia's investment climate and
the international image of the business condition in the country.

"If the revival of investment climate is affected by unilateral
termination of a contract, especially in the oil gas sector, it would
hamper efforts to raise oil/gas production," Chairman of the
Association of National Oil and Gas Companies (Aspermigas) Effendi
Siradjuddin said here Tuesday.

Speaking to reporters in response to the attempt of several circles to
abort the contract on the development of the Cepu oil/gas block in
East Java, he pointed out that attracting foreign investors is one of
the important aspects to speed up the national economic recovery.

Indonesia can not rely only on local investors with relatively limited
financial capacity in the exploitation of abundant natural resources
in the country for the enhancement of people's welfare, according to
the chairman of the oil/gas caucus.

To make Indonesia more attractive to foreign investors, the government
must strive to make the country's business climate conducive to
investment, for instance, by securing legal certainty and respecting
contracts already signed, he said.

The soaring crude oil price on the world market constitutes a good
momentum for Indonesia to draw foreign investors, whose presence is
expected to bolster efforts to increase national oil/gas production,
which has been down by 40 per cent in the past ten years, he said.

The government, along with oil/gas business circles, is expected to
draw up more strategic policies in the oil/gas sector to multiply
national oil/gas production, increase foreign exchange earnings and
expand job opportunities as part of efforts to cope with the high
unemployment level, he added.

Concerning the contract between the state-owned oil/gas company
Pertamina and ExxonMobil, he said it is quite profitable as 85 per
cent of the output will go to the Indonesian government, and the
remaining 15 per cent to the foreign contractor.

---------------------------------------------------------------

South Korea's thirst for minerals spurs new funds

By Kang Shinhye

SEOUL, August 10 (Reuters) - A booming commodities market and tax
incentives from South Korea's government have the country's financial
industry rushing to set up mineral funds, even as some experts warn
about the risks.

South Korea plans to allow financial institutions to form tax-free
mineral funds by December to raise seed money for the development of
mines around the world.

The resource-poor country, which relies on imports for a steady supply
of metals to feed its economy, is keen to develop its own mines so
that it will be less vulnerable to soaring global metal prices.

"Any gains mineral funds make will be free from taxes. This huge tax
benefit would definitely sharpen investors' appetites," said Jeong
Jong-hun of the project financing team at Daewoo Securities Co. .

In contrast, income and capital gains taxes eat up 15.4 percent of
returns from other funds.

Daewoo is preparing to set up a fund to develop an iron ore mine in
Indonesia. Daewoo has already secured the mine, investing $4.3 million
of its own money.

Bridge Securities Co. also wants to start a mineral fund with
state-run Korea Resources Corp. by December.

"It is in a very early stage, but we are considering setting up a fund
with 100 billion won ($104.4 million) to invest in Vietnam projects,"
said Lee Song-hun, director of the M&A team at Bridge Securities.

Other investment firms were also beginning feasibility studies for
mines, according to industry sources.

Individual metal companies such as POSCO Co. Ltd. and LS-Nikko Copper
have taken leading roles in tapping global natural resources with
government support, but active mineral exploitation has been limited
due to lack of capital.

Now the government is trying to attract a strong cash flow by using
financial institutions, who are eager to help.

"The days of when anybody with money could buy foreign natural
resources are at an end. We have to develop and secure natural
resources abroad by ourselves," said Sohn Hyung-joo, an assistant
director at the energy ministry.

"Mineral funds will channel investment into vast mineral deposits
around the world," she said.

HIGH RISK

The buzz over mineral funds is drowning out some experts who are
warning the funds could be risky for investors.

"If a fund finds a deposit containing vast resources, it will hit the
jackpot, but the chances are really small. It is searching for a
needle in a haystack," said Kang Choongmo, senior manager at Woori
Credit Suisse Asset Management.

Jeong at Daewoo Securities said reality needs to guide decisions, not
the promise of big profits.

"The key factor in whether mineral funds will succeed is feasibility.
Funds have to invest in confirmed projects even if returns are small,"
said Jeong.

Other industry officials are worried about instability in countries
that are rich in natural resources. A South Korean securities firm
cancelled a plan to invest in Kazakhstan gold mine, scared off by
political unrest in the country.

"The risks could make it difficult for any major business deal with
commodity-rich countries to advance," Kang said.

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Indonesia Natural Gas Pipeline Project Gets $75M ADB Loan

JAKARTA, August 10 (Dow Jones)--The Asian Development Bank said
Thursday it will provide Indonesia a $75 million loan to aid the
construction of a natural gas pipeline from South Sumatra province to
West Java province.

"The ADB will also support loans of up to $125 million to PT
Perusahaan Gas Negara (PGAS.JK) provided by other international
financial institutions and commercial banks," an ADB statement said,
without elaborating.

The planned 661-kilometer pipeline is one of two that state-owned
Perusahaan Gas Negara is building to alleviate a natural gas shortage
in West Java province, said the statement, without elaborating on the
timetable for its construction.

The ADB is part of a consortium led by BP PLC (BP) that signed an
agreement earlier this month with international lenders including
Japan Bank for International Cooperation, BNP Paribas S.A. (13110.FR)
and Standard Chartered (STAN.LN) for 15-year loans totaling $2.61
billion for the Tangguh liquefied natural gas facility.

The ADB loans reflect the multilateral lender's mandate to support
Indonesia's economic growth through the development of environmentally
friendly energy projects.

--------------------------------------------------------

Indonesia's Bukit Asam sees 2006 coal sales at 10.5 mln tons vs 9.9 mln

JAKARTA, August 10 (XFN-ASIA) - PT Tambang Batubara Bukit Asam expects
its coal sales this year to increase to 10.5 mln tons from 9.9 mln
tons last year, and then rise further to 11.3 mln tons next year, the
company's corporate secretary Milawarma said.

He said coal sales in terms of volume have been boosted this year by a
commitment from PT Kereta Api Indonesia (KAI) to transport 8.8 mln
tons of coal from the company's mining site in Tanjung Enim to a
loading port in Kertapati in South Sumatra and to Tarahan in the
nearby province of Lampung, compared to 7.9 mln tons last year.

He added that PT KAI has given a commitment to transporting 9.6 mln
tons of coal next year.

Milawarma said the company expects revenue this year to reach 3.6-3.7
trln rupiah, up from 2.99 trln last year. He, however, declined to
give a net profit forecast.

---------------------------------------------------------

Indonesia's RNI plans ethanol factory for 2008

JAKARTA, August 10 (Reuters) - Indonesian state-owned trading firm PT
Rajawali Nusantara Indonesia (RNI) said on Thursday it planned to
build an ethanol factory with capacity of 100,000 litres a day to tap
growing biofuel demand in the country.

Son Ramadir, RNI's business development director, said the company was
in talks with a number of foreign investors for the project, which
would need investment of up to 300 billion rupiah ($33 million).

"The ethanol factory is to support the government's biofuel project.
But we also see potential in the domestic biofuel market," Ramadir
told Reuters.

Construction of the factory in Subang, West Java, may start in 2007
and it is expected to begin operations in 2008.

Ethanol is used as an alternative motor fuel or fuel additive.

There is growing interest in biofuel production in Indonesia as the
authorities are encouraging alternative sources of energy to cut fuel
subsidies, inflated by soaring crude oil prices.

Energy Minister Purnomo Yusgiantoro has said Indonesia would open 6
million hectares of biofuel plantations, including sugar cane, for
production of bio-ethanol for gasoline.

Cane molasses -- a thick syrup produced from sugar cane during the
sugar extraction process -- for ethanol production will be sourced
from the company's own sugar cane plantations, Ramadir said.

The company owns 55,450 hectares of sugar cane plantations with sugar
output estimated at 335,300 tonnes this year.

-----------------------------------------

Petromindo Headlines, 
Thursday, August 10, 2006: 

Oil/Gas: 
 
- ADB provides $75m loan for PGN's 
  S. Sumatra-W. Java pipeline project
- Medco drops plan to sell Apexindo
- E1, Pertamina to sign LPG deal
- Lapindo mud dam broken, residents flee
- Java remains suitable for oil and gas 
  industry: BP Migas
- Pertamina scouts for partners to explore 
  for CBM in S. Sumatra
- PGN to complete FS on LNG receiving 
  terminal
- Jeruk oil field may have less reserves 
  than earlier forecast
- Pertamina to purchase extra gasoline
 
Mining: 
 
- JBG warned for not reporting force 
  majeure measure
- PT Timah to provide mining areas 
  for local miners
 
Power: 
  
- Govt to give incentives to investors 
  joining power projects
 
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Joyo Indonesia News Service
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