11 articles/Joyo Indonesia News Service:
- Pertamina cuts oil products prices
for industry
- Indonesia's Pertamina to spend 130 mln usd
this yr to speed up 3 projects
- Sound Oil says Kerendan gas development plan
approved by Indonesian govt
- Indonesia's EBE to drill exploration in
Central Kalimantan
- Table: Indonesia August Minas crude up to
$73.51/bbl
- Table: Indonesian gas distributor PGN says
H1 net trebles
- Indonesia's PLN Batam reaches deal on power price
from Tanjung Kasam
- Indonesia's Truba Alam ties up with Shanghai Electric
to build power plants
- Indonesia Press: India's Essel Eyes Indonesian
Coal Assets
- Indonesia's Timah H1 refined tin output
up 10 pct
- House questions PLN boss' release
----------------------
Pertamina cuts oil products prices for industry
JAKARTA, September 1 (Reuters) - Indonesian state oil
firm Pertamina has cut the price of oil products for
industrial users for September delivery in line with
lower global prices.
Pertamina spokesman Toharso said in a statement on
Friday the company had cut the gasoline price for
industry by 2.19 percent to 6,359.50 rupiah ($0.699) a
litre from 6,502.14 rupiah.
It also shaved the price of diesel oil for industry by
0.48 percent to 6,576.85 rupiah a litre from 6,608.55
rupiah.
He said fuel oil prices for industry were relatively
stable at 3,759.80 rupiah a litre compared with
3,759.48 rupiah.
Toharso said Pertamina would impose higher prices for
industrial users if they were located far from an oil
products terminal.
The government does not subsidise oil products for
industrial customers.
Although the government increased fuel prices sharply
last October to cut crippling energy subsidies, they
are still among the cheapest in the world.
Indonesia, Asia-Pacific's only OPEC member, has nine
refineries with a combined capacity of around 1
million barrels per day, but they supply only about 70
percent of domestic oil products consumption. The rest
is imported.
Global crude oil prices have been around $70 a barrel
in recent weeks, but Indonesia has said it does not
plan to increase prices of subsidised domestic oil
products.
Pertamina has said Indonesia will consume around 62
million kilolitres (390 million barrels) of oil
products in 2006, compared with 65 million kl last
year.
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Indonesia's Pertamina to spend 130 mln usd this yr to
speed up 3 projects
JAKARTA, August 30 (XFN-ASIA) - State run PT Pertamina
may spend 130 mln usd this year to speed up production
from three oil and gas projects, the company's
director for upstream operations Sukusen Soemarinda
said.
He said the funding may come from both internal cash
flows and external sources.
The projects are gas production at Pertamina's old
fields in North Sumatra; oil production at Pondok
Tengah field in West Java; and oil production at old
fields near the Cepu block.
Sukusen said oil reserves at the Pondok Tengah are
estimated at around 147 mln barrels with potential
upside of up to 300 mln barrels.
He said Pertamina's overall oil reserves are estimated
at up to 400 mln barrels.
Sukusen said Pertamina's upstream business plan has
set a target to increase its oil output to 400,000
barrels per day by 2014 from 131,000 currently.
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Sound Oil says Kerendan gas development plan approved
by Indonesian govt
LONDON, August 31 (AFX) - Sound Oil PLC said the
development plan for the Kerendan gas field has been
approved by the Indonesian government.
The field is covered by the Bangkanai Production
Sharing Contract, in which Sound Oil has a 34 pct
interest following its acquisition of Mitra Energia
Ltd. Elnusa Bangkanai Energy Ltd is the operator of
the Bangkanai Production Sharing Contract.
Commenting on the approval, Sound Oil chairman and
chief executive Gerry Orbell said: 'This is excellent
news and an important step towards the development of
the gas reserves that have been identified at
Kerendan'.
--------------------------------------------------------
Indonesia's EBE to drill exploration in Central
Kalimantan
MUARA TEWEH, CENTRAL KALIMANTAN, September 1 (Asia
Palse/Antara) - A national investor, Elnusa Bangkanai
Energy Ltd (EBE), plans to drill a number of
exploration wells in the Bangkanai oil/gas block in
Barito Utara regency, Central Kalimantan, in early
2007.
EBE senior geophysicist Ramadhin said here Thursday
the company that is grouped in the Upstream Oil and
Gas Regulatory Agency (BP-Migas) will drill a number
of exploration wills in areas believed to be rich in
oil/gas reserves in Barito Utara.
The drilling activities will be carried out in the
areas of a two-dimension survey that has just been
finished by EBE contractor PT Elnusa Geosains. The
survey has detected quite potential oil/gas reserves
is a number of drilling points, according to Ramadhin.
The Bangkanai oil/gas block covers about 6,600 sq.km
of land in two sub-districts in Barito Utara regency
(Central Kalimantan) and a sub-district in Kutai Barat
regency (East Kalimantan.
Before starting oil/gas wells drilling, EBE will
shortly begin building roads for the transport of
oil/gas exploration equipment, including building
semi-permanent bridges, around the location of the
project.
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Table: Indonesia August Minas crude up to $73.51/bbl
TOKYO, August 31 (Reuters) - The official Indonesia
Crude Price (ICP) for Minas has been calculated at a
record high level of $73.51 a barrel for August, an
industry source said on Thursday.
The August price was up $1.54 from the July level of
$71.97.
The August ICPs for key grades are as follows, in
dollars per barrel:
CRUDE AUGUST JULY Minas 73.51 71.97 Ardjuna
74.31 73.40 Senipah Condensate 73.73 72.57
Attaka 76.29 75.41 Cinta 69.76 69.20 Duri
60.05 62.24 Widuri 69.87 69.36 Belida 76.16
75.10 Handil Mix 74.46 73.55 Lalang 73.56
72.02 Badak 76.29 75.41 Walio 73.31 71.77
The Indonesian crude price formula uses average
prices assessed by Platts (40 percent), Japan's Rim
(40 percent) and the Asian Petroleum Price Index (20
percent)
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Table-Indonesian gas distributor PGN says H1 net
trebles
JAKARTA, Auguat 31 (Reuters) - Following are the
results of PT Perusahaan Gas Negara Tbk (PGN) for the
six month period ended June 30.
(in billions rupiah unless stated)
H1 2006 H1 2005 Revenue 3,373.24 2,534.62
Operating profit 1,399.24 720.90 Net Profit
1,099.49 346.76 Diluted earning per share (rph) 243
77
NOTE - The Indonesian government, which owns a 59.5
percent stake in PGN, said last week it planned to
sell some shares in the gas distribution firm in three
months time. It did not specify the size of the stake
for sale.
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Indonesia's PLN Batam reaches deal on power price from
Tanjung Kasam
JAKARTA, September 1 (XFN-ASIA) - PT Pelayanan Listrik
Nasional (PLN) Batam said it has signed an agreement
to purchase power from PT Tanjung Kasam Power at a
price of 424 rupiah per kWh for the next 30 years.
PLN Batam is a unit of state-owned PT Perusahaan
Listrik Negara, and it distributes power in the
industrial island of Batam.
The agreement assumes a rupiah exchange rate of 9,000
to the US dollar and a coal price of 25 usd per ton.
As well as the power purchase agreement, PLN Batam
also signed an engineering, procurement and
construction contract with Dongfang Electric
Corporation worth 96.99 mln usd.
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Indonesia's Truba Alam ties up with Shanghai Electric
to build power plants
JAKARTA, September 1 (XFN-ASIA) - PT Truba Alam
Manunggal is to tie up with Shanghai Electric Power Co
Ltd of China to build power plants in Indonesia, Truba
spokesman Riki Kosasih said.
"The two firms are expected to sign a cooperation
agreement this week in Shanghai," Kosasih told XFN
Asia.
Shanghai Electric is to provide generators and
engineers.
Kosasih said the first project would be a power plant
with two 100-megawatt generators that Truba is
planning to build on the island of Bali.
He said it would normally cost about 800,000 usd to
build 1 MW of capacity, but that the cost also
depended on factors such as where the plant is built.
To raise money for the Bali project, Truba is
preparing to sell 5 bln shares or 38.46 pct of its
enlarged capital, through an initial public offering
(IPO) slated for Sept 27-29.
However, Kosasih said he was not sure if Shanghai
Electric would be willing to buy shares though the
IPO.
Truba has pre-qualified to bid to build power plants
envisioned by state electricity firm PT Perusahaan
Listrik Negara in its crash program to build 10,000 MW
of coal-fired generating capacity.
Kosasih said Truba was eligible to bid to build
300-400 MW and 600-700 MW power plants.
----------------------------------------------------------
Indonesia Press: India's Essel Eyes Indonesian Coal
Assets
JAKARTA, September 1 (Dow Jones)--India's Essel Mining
& Industries Ltd. is seeking to buy coal mining assets
in Indonesia, Bisnis Indonesia reported Friday, citing
a company official.
"Essel is interested to acquire a partial stake or all
of a coal mining company in Indonesia," the daily
quoted executive president of Aditya Birla Group, Ravi
Kastia, as saying.
Essel is the mining arm of Aditya Birla, one of
India's largest business groups.
The company is also looking at several other mining
companies in South East Asia, the report said.
"Essel has a shortlist of ASEAN mining companies for
acquisition," the paper quotes Kastia as saying.
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Indonesia's Timah H1 refined tin output up 10 pct
JAKARTA, August 30 (Reuters) - Indonesia's PT Timah
Tbk , the world's biggest integrated tin producer,
said on Wednesday its refined tin output rose 10
percent in the first half of this year.
Timah said it produced 21,134 tonnes of refined tin in
the first six months of 2006 compared with 19,214
tonnes a year ago.
Despite the higher output, the company's refined tin
sales fell during the period to 19,083 tonnes from
19,364 tonnes. The firm did not give a reason for the
declining sales.
The average price of tin received by the state-run
firm fell 1.23 percent to $8,120 per tonne from the
same six months last year.
Tin is used in electronics, plating and the chemical
sector and as a lead-free substitute in solder.
Timah's Bangka operations have a capacity to produce
47,000 tonnes of tin a year.
Lower tin prices and higher production costs slashed
Timah's net profit by 75 percent to 23.9 billion
rupiah ($2.6 million) during the period.
The firm's operating profit fell to 68.1 billion
rupiah from 147.3 billion, but sales revenue climbed
to 1.73 trillion rupiah from 1.61 trillion.
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The Jakarta Post
Friday, September 1, 2006
House questions PLN boss' release
JAKARTA: The House of Representatives will
summon National Police chief Gen. Sutanto and
Attorney General Abdul Rahman Saleh over the
release of a former president of the state electricity
firm in a multi-billion rupiah graft case.
Eddie Widiono was freed from police detention
early Thursday.
"We will have to seek clarification about the release,"
said House Speaker Agung Laksono, "otherwise people
will remain confused."
Eddie had spent two months in detention while being
investigated for his role in alleged graft worth Rp 122
billion in the development of a power project in South
Sumatra. Under Indonesian laws, a suspect must be
freed if the investigator fails to find sufficient evidence
to file charges.
Gen. Sutanto expressed his disappointment over
prosecutors' rejection of Eddie's dossier, which the
police had on file, on the grounds that the evidence
was insufficient.
"But this doesn't dampen our spirit to combat
corruption," he said.
Eddie's release has angered anticorruption activists,
who say it appears irregular.
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Joyo Indonesia News Service
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