[Kabar-indonesia] 13 oil/gas/mining reports: PLN Biggest Loss-Making State Firm with US$546m

[JoyoNews at aol.com]

Note: also see the previously sent: Indonesia, Australia to boost thermal 
coal exports, bureau says; Indonesia's subsidized fuel use may fall 
13% short of target; and Pertamina sees US$18.7 billion investment 
requirement for 2006-10 [4 reports]

13 oil/gas/mining reports: 

- Indonesia's PLN tops list of loss-making 
  state firms in 2005 - minister (US$546m)
- Oil's likely long-term price on the rise
- ST: Shell grows Asian petrol retail 
  markets rapidly
- SCMP: Do the math, oil's set to boom
- update: Indonesia sees lower subsidised 
  fuel demand in '06
- update: Indonesia govt proposes 8.4 trln 
  rupiah additional fuel subsidy this yr -report
- Indonesia's Wiluan not planning to merge
    Singapore oil/gas interests
- Indonesia govt orders Arutmin to pay
    overdue coal royalties
- Sound Oil in reverse takeover 
  of Mitra Energia; 11.7 mln stg placing
- Indonesia Invites Formosa Plastics For
    Power Plant Invest
- Merrill Lynch sees $150-200m revenue 
  for Ormat in Indonesia
- Indonesia's Apexindo wins US$22.3m
  geothermal drilling contract
- Petromindo Headlines, Monday,  
  June 26, 2006

Indonesia's PLN tops list of loss-making 
state firms in 2005 - minister (US$546m)

JAKARTA, June 26 (XFN-ASIA) - Electricity firm PT Perusahaan Listrik
Negara (PLN) was the biggest loss-making state firm in 2005, suffering
a net loss of 4.92 trln rupiah (US$546m) for the year, said State 
Enterprises Minister Sugiharto.

Debt-ridden airline PT Garuda Indonesia and PT Merpati Nusantara
Airline followed in second and third spot after booking losses of
560.6 bln rupiah and 270 bln in 2005, respectively.

The other six firms on the top 10 list are PT Danareksa (with a loss
of 182.34 bln rupiah), PT Pelayaran Nasional Indonesia (127.82 bln),
PT Dokdan Perkapalan Kodja Bahari (74.86 bln), PT Perkebunan Nusantara
II (68.32 bln), PT Pengerukan Indonesia (61.97 bln), PT Pos Indonesia
(51.41 bln) and PT Inhutani I (34.18 bln).

Sugiharto said 32 state firms out of 158 firms posted combined losses
of 6.60 trln rupiah in 2005.

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

Oil's likely long-term price on the rise

By Alex Lawler

LONDON, June 26 (Reuters) - The likely long-term price of a barrel of oil, 
now 
trading at a near-record $70 a barrel, is on the increase as world demand 
proves more resilient than expected to rising crude costs.

The growing prospect of oil staying high also reflects the industry's 
challenge in accessing new reserves. Violence in major exporter Nigeria restrains 
supply and 
top world exporter Saudi Arabia is off-limits to foreign investors.

Oil should stay around $50 in the long run according to analysts and some 
OPEC producers, and $10 below that according to BP Plc Chief Executive John 
Browne. Three years ago, many analysts and companies assumed long-term prices 
nearer $20.

"Our view is oil should be a medium-term mid-point of $50," said Deborah 
White, analyst at Societe Generale in Paris.

"Producers and consumers can both live with it very happily. What I don't 
know is if in the longer term it's sustainable or if it will stimulate too much 
supply."

As U.S. crude extends its 4 1/2 year rally, some see its long-term price even 
higher than $50.

"The market's trying to feel out where the new long-run price should be," 
said Paul Horsnell of Barclays Capital. "It hasn't really been set in concrete 
yet."

"We'd open bidding at $60 and then go up rather than think of lower numbers."

RHETORIC, NOT FACT

Oil demand and economic growth have defied the gloomiest predictions to 
remain robust despite rising oil prices.

World oil consumption will rise by 1.5 percent this year, faster than in 
2005, because of a "booming" world economy, the International Energy Agency says.

"What we have yet to find out is what is a price that consuming countries 
can't afford," SG's White said. "We once thought that they could not afford $40 
or $50 or $60, but I think we understand that was rhetoric rather than fact."

U.S. crude hit a record $75.35 in April. Importers in 2004 were complaining 
that oil cost about half as much and many believed $50 would see world growth 
grind to a halt.

Some members of OPEC, supplier of more than a third of the world's oil, now 
say an ideal price starts around that level.

"I say $50 to $55, this is the best oil price," said Abdullah al-Attiyah, oil 
minister for Qatar, on June 13.

The group in 2005 ditched a goal to keep its oil benchmark between $22 and 
$28 as rising demand eroded members' power to influence prices.

But for the IEA, an adviser to industrialized countries, OPEC's latest price 
aspirations are too steep. The agency's head Claude Mandil said in November 
oil "even at $50" was too high.

'COLLAPSE?'

Oil companies, skeptical about whether the rally will last, say prices should 
be lower still.

BP Chief Executive John Browne regards $60 oil as "unsustainably high" and 
has said $40 may prove to be a floor price for the commodity.

Executives point to brimming crude stocks in the United States, which are at 
the highest in eight years, and rising interest rates, potentially slowing 
economic growth.

"There's lots of talk of a price collapse," said a U.S. oil executive who 
declined to be identified. "Based on where inventories are, it should be $35."

While executives still remember a price crash to $10 in 1998 that hurt the 
industry, companies' perception of a floor for prices is on the increase.

Statoil ASA this month raised its long-term price assumption to $30-35 from 
$25-30.

"There is little to suggest we are returning to a price level like we saw at 
the end of the 1990s," Statoil's Chief Executive Helge Lund said.

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

The Straits Times (Singapore)
June 26, 2006

Shell grows Asian petrol retail markets rapidly

by Erica Tay

It is planning to build one station a week in Indonesia, India and China

FOR many motorists in Indonesia, China and India, last year marked the
first time they could fill their tanks at a Shell petrol station - or
any international fuel chain, for that matter.

These countries' fuel retail markets, previously monopolised by
domestic companies, had only opened up to foreign players in late-
2004 and 2005.

And Shell, being among the first to be allowed in, has plans to expand
furiously.

Demand for its fuel is so strong that the Anglo-Dutch company is
'planning in those countries to build a site a week', said the global
chief of Shell's retail operations, executive vice-president Leslie
Van de Walle.

'You'd be surprised by the queues we have at our sites,' he said of
Shell's first four petrol stations in Jakarta.

On a visit to Singapore last week, Mr Van de Walle outlined Shell's
strategy to focus on the East.

'In countries like China, India and Indonesia, we are growing very,
very quickly. Over time, we want to have over 30 per cent of our
business in the East, up from 15 per cent to 20 per cent now.'

Unlike the mature retail markets of Europe, the potential in some
Asian markets is limited only by how fast new petrol stations can be
built; and new staff, recruited.

'We are investing very heavily in the East, where growth is available
and where the brand is very well-positioned,' he added.

For well-served markets such as Singapore, investments will go towards
marketing and giving better value, he said.

Fledgling retail markets, on the other hand, will see a slew of
investments go into building new sites.

In India, Shell has a licence to build a network of up to 2,000 petrol
stations. It now operates 12 sites and is hiring 10 people every week.

Its appeal as a global brand clearly helps to win motorists over.

'Last time, when I was in India, I met some people who do a 16km
detour just to buy fuel at the Shell station,' Mr Van de Walle
recalled.

In a market where other petrol stations are notorious for
short-changing motorists, Indian customers like the fact that 'when
you pay for a litre of fuel at Shell, you get a litre', he added.

In China, a joint venture with national oil giant Sinopec saw Shell
taking over about 200 existing stations in the eastern province of
Jiangsu, with the potential for 500 new or existing sites eventually.

Shell's new retail stations in Indonesia, despite only being allowed
to sell pricier premium grade fuel and not main grade fuel, has also
been attracting queues of motorists.

The main challenges Shell faces in breaking into these markets are
understanding local customers, recruiting and training local staff,
and finding new sites, said Mr Van de Walle.

Pump prices at the three countries may be lower than in others, due in
part to government fuel subsidies, but at the end of the day, Shell's
petrol stations make 'a margin that is pretty similar, whatever the
country', he added.

But what about the dominance of the local incumbents, the opening up
of markets notwithstanding?

'We at Shell quite like competition because we think we are pretty
good at fuel retailing...It forces us to be better in order attract
customers and win market share,' said Mr Van de Walle.

Right now, however, the pie is big enough for everyone, he pointed out.

'The market is growing so quickly, that you have room for national
players and international players. Unlike in Europe, where the market
is mature, when you gain one litre, somebody loses one litre.'

'In China, for the time being (the thing) is that as much fuel as you
can produce, they will consume.'

ericatay at sph.com.sg

High-speed developmentUNLIKE the mature retail markets of Europe, the
potential in some Asian markets is limited only by how fast new petrol
stations can be built; and new staff, recruited.

In India, Shell has a licence to build a network of up to 2,000
stations. It now operates 12 sites and is hiring 10 people every week.

In China, a joint venture with national oil giant Sinopec saw Shell
taking over about 200 existing stations in the eastern province of
Jiangsu, with the potential for 500 new or existing sites eventually.

In Indonesia, despite only being allowed to sell pricier premium grade
fuel and not main grade fuel, Shell stations have also been attracting
queues of motorists.

The main challenges Shell faces in breaking into these markets are
understanding local customers, recruiting and training local staff,
and finding new sites, says Mr Van de Walle.

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

South China Morning Post
June 25, 2006

Do the math, oil's set to boom

By Puru Saxena
[Puru Saxena is the chief executive 
of Puru Saxena Wealth Management.]

With production at a peak, no new major finds and Asia driving demand,
it's a must-have investment, writes Puru Saxena

Over the past century, we have witnessed amazing progress and
development due to the availability of cheap oil. A seemingly endless
supply of fossil fuels has brought about massive improvements in our
transportation system, thereby transforming and enriching our lives.
Globalisation became a reality due to the efficient movement of goods
between nations made possible by inexpensive crude oil.

Today, the majority of people take cheap energy for granted without
realising that crude oil is a precious natural resource, which is
about to become extremely scarce. Whether we like it or not, our
planet is approaching "peak oil". In other words, our world's
oil-production peak is upon us and this will have a profound impact on
our lives.

It is absolutely crucial to understand that peak oil does not mean
that our world is about to run out of oil. I have no doubt that oil
will be around for several decades. But the rate at which we pump
crude oil from the ground is now peaking and about to enter a major
decline. Already, several of the major oil provinces are past their
peak production. The US, Alaska, Kuwait, the North Sea, Siberia,
Indonesia, Mexico and China's daily production rates are now in
decline.

Executives of oil companies and government officials seem to be
convinced that we will soon find more oil to meet future demand, but
this may be wishful thinking. Despite all our efforts and
technological improvements, only one gigantic oil-field has been
discovered over the past 35 years.

My research has convinced me that rising demand from the emerging
economies of Asia and struggling supplies will lead to super-expensive
oil. Even though the price of crude has risen significantly over the
past five years, I believe it will continue to soar over the coming
decade.

At present, our planet consumes around 84 million barrels of oil daily
whilst supply is around 84.5 million barrels per day. Global demand
has increased by roughly 2 per cent per annum over the past 50 years.
Most of the recent growth in oil demand has come from China. At the
beginning of 2000, China used to consume 4 million barrels of oil per
day and now it consumes 6.5 million barrels on a daily basis. China's
demand has appreciated by 62.5 per cent over the past six years.
Despite this exceptional growth, its per capita consumption is still
extremely low with the average Chinese consuming only 1.82 barrels of
oil in a year. For the sake of comparison, the average American
consumes 25 barrels of oil in a year.

India, home to 1.1 billion people, consumes 2.5 million barrels of oil
per day. India's per capita consumption comes in at a comparatively
miniscule 0.83 barrels. By comparison, per capita oil consumption in a
more advanced Asian country such as South Korea comes in at 17
barrels. What is interesting to note though is that despite this
enormous gap in per capita consumption levels, India is already a
bigger consumer of oil.

In North America, Mexico's per capita consumption is 7.3 barrels a
year. Let us assume that due to the ongoing economic development in a
few years time the average Indian will start consuming half the amount
of oil as the average Mexican. When that happens, India will require
11 million barrels of oil on a daily basis. In order to satisfy this
demand we will need another Saudi Arabia pumping at full capacity.
Moreover, over the coming decade I expect Asian oil demand to almost
double from 22 million barrels to 40 million barrels.

Over the same period, I anticipate that supply may actually decline
due to the global oil-production peak. So, whenever somebody tells you
that oil is in a "bubble" and ready to crash, ask them where this
additional oil will come from.

Our world faces a dire energy crisis based on supply and demand. Over
the coming years, I expect the price of crude oil to ignite. How high
will it go? Unless we discover a few gigantic oil fields very quickly,
the price of crude may reach US$200 per barrel.

Over the past nine months, oil has consolidated and gone nowhere,
thereby frustrating the bulls. Soon, the US will face its hurricane
season and if last year's track record is any guide, oil may reach
US$100 per barrel on supply disruptions. Moreover, I also anticipate
the prices of natural gas, uranium and ethanol to rise over the coming
decade.

If my assessment is correct, energy should form a core position of
your investment portfolio as this is the only protection we have from
the energy shortages and the inevitable price increases we will
witness over the coming decade. As the price of energy continues to
appreciate the majority of consumer goods are going to become very
expensive.

Our firm has invested a large portion of our managed accounts in the
energy complex.

As far as possible, we have bought the underlying commodities rather
than owning stocks of energy-producing companies. Finally, we have
also invested in agricultural commodities like sugar, corn and wheat,
which will be in great demand for the production of ethanol and
bio-diesel.

In summary, an investment in energy is now a critical wealth
preservation strategy and those who fail to act promptly may face
financial difficulties over the coming decade.

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

Indonesia sees lower subsidised fuel demand in '06

JAKARTA, June 26 (Reuters) - Indonesia's Pertamina estimates
subsidised fuel demand will fall to around 39 million kilolitres (245
million barrels) in 2006, down 34 percent from last year and lagging
an initial target, due to high retail prices, an official said on
Monday.

The country consumed 59.3 million kl, or 373 million barrels, of
subsidised oil products last year and had forecast 2006 consumption 
at 41.5 million kl.

"Since domestic oil product prices were raised, consumption was
declining. We estimate subsidised fuel consumption to fall to around
39 million kilolitres this year," Achmad Faisal, marketing director
with state oil firm Pertamina told reporters.

Domestic oil products consumption was about 1.3 million barrels per
day (bpd) in September last year and has since fallen to 905,600 bpd
after the government raised domestic retail prices last October,
another Pertamina official said on Monday.

Indonesia increased retail oil product prices last October to ease the
burden of costly imports and fuel subsidies that have been pushed up
by soaring global prices, hitting its currency and hurting the
economy.

Indonesia, the only Asia-Pacific member of the OPEC producers' cartel,
is forced to import about a quarter of its fuel needs as its domestic
refineries, which have a capacity of about 1 million bpd, cannot
produce enough to meet demand.

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

Indonesia govt proposes 8.4 trln rupiah 
additional fuel subsidy this yr -report

JAKARTA, June 26 (XFN-ASIA) - The government is proposing an
additional fuel subsidy of 8.4 trln rupiah to augment the previously
planned 54.3 trln rupiah for this year, Bisnis Indonesia reported.

Bisnis quoted Mohamad Ikhsan, an expert staff at the coordinating
ministry for economic affairs, as saying that the increase resulted
from higher oil price and exchange rate assumptions.

He said the average crude oil price price for this year is now assumed
at 62 usd a barrel, while the exchange rate is seen at 9,300/usd,
against previous forecasts of 57 usd/barrel and 9,000 rupiah/usd.

The oil price assumption refers to the Indonesian crude price (ICP),
which is around 3.00 usd below the global crude price, the report
said.

The government will propose a 2006 budget revision to parliament next
month, it said.

The subsidy increase is in line with the 15 pct rise requested by
state oil-and-gas firm PT Pertamina, which distributes subsidized
fuels. The government subsidizes Pertamina for selling the fuel
products for transportation and household use below their commercial
prices.

Last year, the government hiked fuel prices twice by an average 29 pct
in March and by 126 pct in October to pass on the higher cost of
production due to an oil price spike. No further increases are
expected for this year.

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

Indonesia's Wiluan not planning to merge Singapore oil/gas interests

SINGAPORE, June 26 (XFN-ASIA) - Indonesian businessman Kris Wiluan
said he has no plans at the moment to merge his substantial interests
in two oil and gas companies listed on the Singapore Exchange.

Wiluan, through Pacific Oilfields holds a 29.98 pct stake in KS
Energy, a supplier of equipment to the oil and gas industry, and a
28.40 pct stake in SSH Corp, a supplier of pipes to the same industry.

KS Energy in turn holds a 54.81 pct stake in Aqua-Terra, a marine
hardware supplier. It also holds a less than 5.0 pct stake in Ezra
Holdings, which provides anchor handling and tug supply (AHTS) vessels
to the oil and gas industry.

The group is not planning to buy into Ezra Holdings in the near term,
despite the close partnership KS Energy has with the offshore support
and marine services provider, he said.

"We always like to see synergy and Ezra has already been working
closely with us (through KS Energy)... but at the moment, we don't
have the intention to buy it," Wiluan said.

In April this year, KS Energy and Ezra formed a joint venture company
to acquire a self-propelled rig that will be chartered to a US oil
company for 95 mln sgd over five years.

"For KS Energy, its business is doing well... what I intend to do is
to see what other businesses we can put into KS Energy," Wiluan said.

But these businesses have to be complementary to KS Energy's existing
business in the oil and gas equipment and related businesses, Wiluan
said.

To make the group's business operations more cost efficient, Wiluan
said he is looking to relocate the group's three warehouses in
Singapore to nearby Batam island.

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

Indonesia govt orders Arutmin to pay overdue coal royalties

JAKARTA, June 26 (XFN-ASIA) - The government has ordered PT Arutmin
Indonesia, a unit of PT Bumi Resources, to settle its unpaid coal
royalties, an official at the energy ministry said.

Arutmin reportedly owes the government some 60 mln usd plus 106 bln
rupiah in unpaid coal royalties, according to a Bisnis Indonesia
report.

Mangantar Marpaung, director for coal and geothermal development at
the energy ministry, told reporters Arutmin has asked for a delay in
settling the unpaid royalties until its spin-off from Bumi Resources
is completed but that this was not granted by the government.

Bumi earlier sold Arutmin and another unit, PT Kaltim Prima Coal, to
PT Renaissance Capital Asia for 3.2 bln usd but the buyer has yet to
settle payment for the deal.

"Arutmin has asked the government to allow it to delay the payment (of
the coal royalties) until the divestment process is completed. But we
told them to settle the payment without waiting for the completion of
the divestment," Marpaung said.

Arutmin, together with five other coal miners, owe the government some
4 trln rupiah in unpaid royalties.

The coal miners have deferred paying the royalties to the energy
ministry as they are seeking a reimbursement of value-added tax
payments of approximately the same amount from the ministry of
finance's tax office.

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

Sound Oil in reverse takeover of Mitra Energia; 11.7 mln stg placing

LONDON, June 26 (AFX) - Sound Oil PLC, the oil and gas company, said
it will buy Mitra Energia in a reverse takeover deal worth about 16
mln stg.

Mitra is an unquoted gas company with interests in Indonesia.

Sound Oil, which has cash assets of about 10 mln stg, also said it
raised 11.7 mln stg through a placing of new shares at 7.25 pence
each.

It will issue about 223.4 mln new shares as payment for Mitra, valuing
the latter at 16.2 mln stg at the placing price.

The enlarged group will have a market capitalisation of 50 mln stg,
based on the placing price.

Sound Oil said it will use its existing cash and the placing proceeds
for the development of Mitras gas interests in Indonesia.

Mitra holds a 34 pct interest in the Bangkanai Block onshore central
Kalimantan and 20 pct in the Citarum Block onshore central Java.

Gerry Orbell, chairman and chief executive of Sound Oil, said: 'This
is a very good deal for Sound. Within a few months we will have
started drilling the first of four high impact exploration wells on
our licences in Java and Kalimantan. In addition we shall be
developing the Kerendan gas field in Kalimantan which we expect to
give us a 20-year cash flow starting 2008.'

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

Indonesia Invites Formosa Plastics For Power Plant Invest

TAIPEI, June 26 (Dow Jones) -- An Indonesian provincial governor has
invited Taiwan's Formosa Plastics Group to invest in coal-fired power
plants in Central Java, a group official said Monday on condition of
anonymity.

The Taiwanese plastics and petrochemical conglomerate, whose members
include Formosa Plastics Corp. (1301.TW), Formosa Petrochemical Corp.
(6505.TW) and Formosa Chemicals & Fibre Corp. (1326.TW) has not yet
decided whether to make the power-plant investments in Indonesia, the
official said.

Central Java Governor Mardiyanto visited Formosa Plastics in May, when
he laid out the investment proposal, the group official said,
declining to provide details.

"He said he welcomes our investments and would like us to go inspect
Central Java's investment environment," the official said.

The group hasn't decided whether to visit Central Java and said that
Indonesia's macroeconomic and political risks may deter any investment
plans.

The move comes as earlier this month, a consortium of Chinese banks
offered to loan Indonesia's state-owned electricity supplier
Perusahaan Listrik Negara up to $4 billion to help build 24 coal-fired
power plants, totaling 10,000 megawatts of capacity, across the
country.

The Indonesian government's plan to increase the use of coal-fired
electrical generation facilities reflects official policy to reduce
Indonesia's domestic crude oil consumption within 10 years to 30.0% of
the country's total energy mix.

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

Globes Online (Israel)
June 25, 2006

Merrill Lynch sees $150-200m revenue for Ormat in Indonesia

MedcoEnergy, a joint venture of Ormat and Itochu Ltd. of Japan will
probably build and operate the 200-megawatt Sarulla geothermal power
station in northern Sumatra.

By Merav Ankori

Previous analyses for Ormat Technologies Inc. (NYSE: ORA) in the past
year mainly focused on expected huge projects in Nevada, one of which
has already been approved, but it turns out that Ormat Industries Ltd.
(TASE: ORMT), its parent company, can also expect handsome revenue
from Asia.

Merrill Lynch analyst Haim Israel directs his attention to these Asian
projects. He said MedcoEnergy, a joint venture of Ormat and Itochu
Ltd. of Japan will probably build and operate the 200-megawatt (MW)
Sarulla geothermal power station in northern Sumatra, Indonesia. Ormat
will provide the equipment and Itochu will sell the electricity from
the power station. Merrill Lynch writes that MedocEnergy offered a
price of 4.555 cents per KWh, less than 4.642 cents per KWh offered by
its competitor in the tender, and significantly lower than Ormat's
average price.

Merrill Lynch believes that revenue from the Sarulla project could
reach $150-200 million over four years, if Ormat's role is limited to
supplying equipment and operations.

Since neither Ormat nor the Indonesian authorities have made any
official announcement, Merrill Lynch is not factoring in any
additional revenue into its model for Ormat at this time. Haim Israel
has kept his "Buy" recommendation for Ormat Industries at a target
price of NIS 50 per share, 17% above its current market price of NIS
42.84.

Next week, Ormat Industries will join the Tel Aviv 25 index.

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

Indonesia's Apexindo wins 22.3 mln usd geothermal drilling contract

JAKARTA, June 26 (XFN-ASIA) - PT Apexindo Pratama Duta said it has
secured a 22.3 mln usd geothermal drilling contract from Star Energy
Holdings Pte Ltd and Magma Nusantara Ltd.

Through this contract, Apexindo will work to support the Wayang Windu
geothermal power plant in West Java, it said in a statement.

The project is located in Pengalengan, West Java and will commence in
August 2006. Rig 5 Apexindo will work on the project for a minimum
period of one, year with an extension option.

"This contract will enable Rig 5 Apexindo to work at full utilization
this year," said company president Hertriono Kartowisastro.

By securing this new drilling contract, Apexindo expects its land rig
utilization to improve, which will encourage revenue contribution from
its land rig segment, said finance director Agustinus B Lomboan.

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

Petromindo Headlines, June 26, 2006

Oil/Gas: 

- Sound Oil acquires interests in Bangkanai, 
  Citarum PSCs
- Pertamina to import 3-3.4 million tons of LPG
- Pertamina needs US$18.7 billion for investment
- PSCs will get incentives: BP Migas
- ConocoPhillips cancels plan to sell stake in 
  Aceh gas block
 
Mining: 

- Singapore’s Penton establishes UK subsidiary 
  Jambi Coal Plc
- Borneo to pay $3.1 billion for Bumi acquisition 
  by end of June
- Police to take control of security at Freeport
 
Power: 

- Apexindo US$22.3m geothermal drilling contract

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Joyo Indonesia News Service
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