[Kabar-indonesia] 17 oil/gas/mining reports: PGN; Inco; Electricity Tariff; Pertamina; Fuel Budget
JoyoNews at aol.com
JoyoNews at aol.com
Fri Sep 15 12:02:09 MDT 2006
Note: also see the previously sent: Indonesia's PGN To Tap S Sumatra
Coalbed Methane Reserve; Indonesia's Timah seeks to delist from London
Stock Exchange; and Pertamina To Shut 20,000 B/D Refinery Unit
End '06
17 Reports:
- Indonesia expects 3 trln rupiah proceeds
from PGN stake sale
- Indonesian business leaders slam plan
to hike electricity tariff
- Indonesia not planning to hike power
tariff next year - govt official
- PT Inco needs US$2.5 bln to boost
nickel output
- Platts: Indonesia lifts subsidized fuel
budget 18% despite lower volumes
- BI: Three State Banks Interested in
Financing Cepu Block
- Platts: Pertamina fields Japan
interest in Java refinery project
- Bloomberg: BP, Oil & Natural
Gas Bid to Explore India Oil, Gas
- Indonesia Pertamina Buys 2.9M
Bbl Of Nov Crude In Tender
- Asia-Pacific Crude-High Tapis
to check firm demand
- Indonesia needs 15 Panamax
type ships for coal transport
- Indonesia expected to gain
from a surge in coal transport
costs
- Indonesia's Tuban Petrochemical
to expand capacity
- Archipelago Resource swings
into profit in H1
- EN3 of South Korea to build
bioethanol plants in S. Sulawesi
- China's Gasoline Exports Slump
On Domestic Needs
- Petromindo Headlines,
Friday, Sept. 15, 2006
Indonesia expects 3 trln rupiah proceeds from PGN stake sale
JAKARTA, September 13 (XFN-ASIA) - The government expects to
raise 3 trln rupiah proceeds from the planned sale of a 5.3 pct stake
in gas distributor PT Perusahaan Gas Negara, State Enterprises
Minister Sugiharto said.
'Hopefully it (a 5.3 pct stake) is enough to raise 3 trln rupiah,' he
told reporters.
He said the government may sell the stake at any time from now until
the end of this year.
Sugiharto also said the government is only interested in selling at a
premium price, given that PGN has a number of gas transmission
projects coming on stream this year.
'I think the current PGN price is still below its fair level,' he
said, adding that 16,000-18,000 rupiah represents a fair price.
PGN closed today up 50 rupiah at 12,600.
--------------------------------------------------------------
Indonesian business leaders slam plan to hike electricity tariff
JAKARTA September13 (Asia Pulse/Antara) -- Industrialists and business
leaders have expressed concern with the government's plan to raise the
electricity tariff by 12 per cent next year, saying the policy will be
a drag on industrial recovery.
Business leaders said they fear the move may force new waves of mass
sackings as production costs are already too high for many factories.
The industry has lost much of its competitiveness because of various
other factors causing high cost economy , they said.
Chairman of the association of motor vehicle industry Bambang Trisulo
said an increase in the electricity tariff will be another blow to the
industry, eroding the already weak purchasing power of the people.
"Increase in electricity tariff will jack up prices, triggering a
surge in inflation rendering a setback in the efforts to revive the
real sector," Bambang said.
"The policy will dampen hope, which has risen after the step taken by
the central bank to gradually cut its reference interest rate," he
said.
Chairman of the association of textile companies (API) Benny Sutrisno
said an increase in electricity tariff will add to the government's
burden in seeking to reduce poverty as it will certainly increase the
number of poor people in the country.
Factories will certainly take rationalization which will mean sending
more people out of job, Benny said.
Meanwhile, chairman of the association tire companies Aziz Pane said
the plan to raise electricity tariff shows that the government has no
clear policy to revive the real sector.
-----------------------------------------------------
Indonesia not planning to hike power tariff next year - govt official
JAKARTA, September 13 (XFN-ASIA) - The government is not planning to
hike the power tariff next year, the Energy and Mineral Resources
Ministry's director general of electricity and energy usage, J Purwono
said.
He made the remark to clarify press reports that quoted him as saying
that the government has proposed toparliament to raise the electricity
tariff by 12 pct next year.
"It (12 pct increase) was just an exercise not a government plan. I
therefore apologize for the mistake," he told a gathering of the
Association of Indonesian Junior Businessmen (HIPMI).
Purwono said the government may not hike the power tariff until 2009.
"But it may gradually reduce the power subsidy," he said.
The government provides the subsidy to electricity firm PT Perusahaan
Listrik Negara (PLN) for selling power below its commercial prices.
-----------------------------------------
PT Inco needs US$2.5 bln to boost nickel output
JAKARTA, Sept 14 Asia Pulse - PT International Nickel Indonesia (Inco)
(JSX:INCO), a subsidiary of Canadian nickel giant Inco Limited, said
it needs US$2.5 billion to increase its production by 44.9 per cent to
200 million pounds (90,720 tons) in 2010 from 62,600 tons last year.
PT Inco President Arif S. Siregar said part of the fund is expected to
be contributed by its shareholders Inco Limited and Sumitomo Metal
Mining Co. Ltd.
Siregar said the company plans to use the technology of high pressure
acid leaching process (HPAL) to process low grade nickel ores.
PT Inco produces nickel in matte with a purity of 78 per cent from
laterite in its processing facility in Soroako, South Sulawesi.
PT Inco sells its nickel production to Sumitomo Meta Mining Co. Ltd,
which is its 20.09 per cent shareholder, under a long term contract.
-----------------------------------------
Platts Commodity News
September 13, 2006
Indonesia lifts subsidized fuel budget 18% despite lower volumes
The Indonesian parliament has agreed to raise the government budget
for fuel subsidies in 2006 by 18.2% to Rupiah 64.2 trillion ($7.0
billion) while simultaneously cutting the subsidized fuel quotas 8.7%
to 37.9 million kiloliters, parliament member Ramson Siagian told
Platts Wednesday.
The fuel subsidy rose because the original budget envisioned an
average $57/barrel crude cost, which has been revised to $64/barrel.
"We have to increase the oil price forecast to $64/barrel, which
raised the fuel subsidy as well," Ramson said. Budgeted volume for
subsidized fuels was revised down due to lower than expected
consumption, Ramson said. The 37.9 million kl budget comprises 17
million kl of gasoline, 9.9 million kl of kerosene and 11 million kl
of diesel oil.
Earlier state-owned Pertamina said Indonesia would consume between 36
and 39 million kl of subsidized fuels, down about 20% on year due to
an economic slowdown in the first half of 2006.
The Indonesian government had raised prices on subsidized fuels by an
average 126% on October 1, 2005 to help ease the burden on state
coffers. The sudden price increase crimped fuel consumption in Q4 of
2005 and in the first half of 2006. Indonesia subsidizes all fuels
except for premium gasoline and oil products sold to industries.
-------------------------------------------------------
Bisnis Indonesia
September 13, 2006
Three State Banks Interested in Financing Cepu Block
JAKARTA: The State Oil Company (PT Pertamina) reveals there are three
state banks, namely Bank Mandiri, BRI, and BNI, interested in
providing finance to PT Pertamina to develop Cepu block since they
consider the block promisingly profitable.
However, the state banks have to compete with international banks that
are also interested in providing finance to Pertamina. On the other
hand, Pertamina will only appint two banks as lead financing banks.
The information was revealed by Pertamina Financial Director PT
Pertamina Ferederick S.T. Siahaan to the journalists before the
working meeting between the Minister of Energy and Mineral Resources
and the House Commission VII on Monday night.
"Informally, the three banks have seriously expressed their interests.
We will invite them to submit their proposals," he said.
He targeted that by the end of next month PT would have already been
able to appoint the lead financing banks.
"There will be only one or two lead banks. Therefore, state banks can
always establish a consortium," he revealed.
Previously, several international banks had also expressed their
interests in financing Cepu block, such as Citigroup, JP Morgan,
Goldman Sachs, UBS, HSBC, CSFB, and JBIC.
PT Pertamina requires US$560 million to develop Cepu block. As a
developing partner in Cepu block, ExxonMobil Oil Indonesia Inc also
requires the same amount of funds.
In the plan of development (PoD) of Cepu block proposed by Exxon and
Pertamina to the Oil and as Executive Agency (BP Migas), they say that
they require US$1.2 billion in total funds to develop Cepu block.
To swell
Ferederick added that it was possible that the investments required to
develop the block, which contained oil reserves up to 600 million
barrels per day, would develop as the prices of raw materials for
mining infrastructure projects are increasing and the international
banking interest rate is climbing.
"The investments can swell since the rupiah exchange rate against the
US dollar at the moment is different from it was. We submitted the PoD
in 2001, so surely there can be changes right now."
Therefore, he continued, Pertamina would propose to revise some
articles in the PoD, especially those on development schedule and
production target.
Previously, Ferederick disclosed that 40 financial institutions had
submitted proposals expressing their interests in financing the
development of Cepu block.
The beauty contest to select two leading financial institutions will
be made by the end of the year.
He said that it would take around four months to select the leading
financial institutions.
-------------------------------------------------------
Platts Commodity News
September 13, 2006
Pertamina fields Japan interest in Java refinery project
Indonesia's state-owned Pertamina has heard from several Japanese
companies that are keen to participate in a new 300,000 b/d refinery
project by Pertamina subsidiary Elnusa, a senior Elnusa official said
Wednesday.
The Japanese companies include Marubeni, Sumitomo, Chiyoda and Toyo
Engineering, Elnusa President Director Rudy Radjab said.
Elnusa plans to build a 300,000 b/d refinery in Indonesia's most
populated Java island. Venezuela would provide 150,000 b/d of crude
feedstock for the project, while the remaining 150,000 b/d would come
from Iran.
Around 70% of the plant's output would be exported and 30% allocated
to the local market, Rudy has said.
Sumitomo has expressed interest in taking a 20% stake in the project
and possibly buy petroleum coke from the plant. Marubeni has also
expressed interest in buying an array of products from the refinery,
Rudy said.
Meanwhile Chiyoda and Toyo Engineering are interested in taking part
in construction of the project, he added. "I expect Japanese'
expression of interest could be realized in a memorandum of
understanding soon," Rudy said.
Elnusa and the National Iranian Oil Refining and Distribution Co
signed a memorandum of understanding in May to build the refinery in
Java, which would start operations in 2010.
Iran's NIORDC would hold 25% and Elnusa 30%. Venezuela's PDVSA would
also cooperate on the project by holding 25%, while Japan's Sumitomo
has expressed interest in having 20% in the project as well, Rudy
said.
Elnusa is currently seeking loans from Japan Bank International
Cooperation and Islamic Development Bank to help finance the $4
billion project. The 70% of investment is expected to come from loans,
while the remaining 30% will be from the shareholders, Rudy has said.
The financial matter of the project is expected to be completed by
December 2006 or early 2007, he has said earlier.
-----------------------------------------
BP, Oil & Natural Gas Bid to Explore India Oil, Gas
By Manash Goswami and Archana Chaudhary
Sept. 15 (Bloomberg) -- BP Plc, Europe's largest oil company, and BG Group
Plc are among companies that have bid to explore for energy in India jointly
with the nation's largest explorer, Oil & Natural Gas Corp.
Oil & Natural Gas led 14 other companies to bid for 45 areas in the biggest
offer, which may help the South Asian nation attract $7 billion of investments
in drilling. D.K. Pandey, exploration director at Oil & Natural Gas, said in
New Delhi India's state-run refiners were a part of the group.
Record energy prices spurred a search for reserves in India, where Reliance
Industries Ltd. made the world's biggest gas find in 2002. Oil-rich nations
have also stepped up their search for new reserves. Middle East oil producers
will spend $94 billion by 2011 to help meet future demands for energy, Saudi
Arabia Oil Minister Ali al-Naimi said Sept. 12.
``India has huge potential oil and gas reserves,'' said Paramaswaran Suppiah,
chief business development analyst at Petroliam Nasional Bhd., Malaysia's
state oil company. Petronas, as it's known, is competing for one area, Suppiah
said.
India expects winning bidders to invest $7 billion in exploration in the
country, Oil Minister Murli Deora said on April 11 after returning from a visit to
the U.S. and Europe to promote India's offer for drilling rights.
Deep-Water Fields
The areas offered include 24 deep-water fields and India expects to sign
contracts with winning bidders within four months of the bid closing, the oil
ministry said Feb. 23.
``For the first time, we have offered so many areas in deep waters,'' V.K.
Sibal, director general of hydrocarbons, said in an interview in New Delhi on
Sept. 12. ``Deep water is a high- risk, high-reward game. It's meant for
companies with deep pockets. This is where I expect the big companies to come in.''
Chevron, the second-largest U.S. oil company, may also submit bids for
exploration, Sibal said. India is offering 55 areas for drilling, half the 110 areas
opened for exploration in the previous five rounds of bidding that started in
1999.
Total SA and Eni SpA, Europe's third and fourth-largest oil companies, UK
company Cairn Energy Plc, India's Reliance Energy Ltd. and Tata Petrodyne Ltd., a
fully owned unit of India's Tata Group, were among the companies that bid,
Sibal said.
`High Demand'
``There is a lot of demand on oil companies around the world to make new
discoveries to meet growing demand,'' said V. Raghuraman, energy adviser to the
Confederation of Indian Industry, the nation's biggest industry body.
``Companies now have more money to spend on exploration than they had few years back, so
that may help attract bids to India's offer.''
Companies that won rights to explore in the previous five rounds under the
so-called National Exploration Licensing Policy have discovered the equivalent
of 4.88 billion barrels of oil, M.S. Srinivasan, secretary to the oil ministry,
said April 11.
At least 30 percent of the discoveries will lead to actual production with
first flow beginning in 2008, he said.
Reliance Industries, India's biggest non-state company which is expanding its
refinery to make it the world's largest by 2008, discovered oil this year in
the same area where it found gas four years ago, the company said June 27.
``This discovery signifies a large geological play that could result in
future discoveries,'' Reliance Chairman Mukesh Ambani told shareholders June 27.
India received 165 bids for the 55 areas offered, Sibal told reporters after
the bidding process ended. The bids were for 52 of the total areas on offer.
``We have had some great successes in the earlier rounds,'' Confederation of
Indian Industry's Raghuraman said. ``India is still very under-explored, and
that should attract companies.''
India is stepping up oil and gas drilling to lower dependence on imported
crude. Higher demand from China and India helped push prices to a record this
year. India's production is declining as existing fields age.
------------------------------------------
Indonesia Pertamina Buys 2.9M Bbl Of Nov Crude In Tender
SINGAPORE, September 13 (Dow Jones)--Indonesia's state-owned Pertamina
(PTM.YY) has bought a total 2.9 million barrels of crude oil for
November supply in a monthly tender, a company official said
Wednesday.
The company bought two 600,000-bbl cargoes of Tapis crude, along with
one cargo of Chinese Nanhai, Papua New Guinea's Kutubu and Malaysian
Labuan crude, the official said.
The company hasn't officially announced the results yet, he said.
Last month, the company bought a total of 1.8 million bbl of Malaysian
crude for October arrival.
-------------------------------------------------------
Asia-Pacific Crude-High Tapis to check firm demand
SINGAPORE, September 13 (Reuters) - The Asia-Pacific crude market
received a boost from Indonesia's highest spot purchases in four
months but high Tapis prices could see more arbitrage crude coming
into the region, traders said on Wednesday.
Indonesia awarded on Tuesday a tender for 2.9 million barrels of
Asia-Pacific crude, its highest spot purchase in four months.
"Pertamina took a surprising amount of spot crude. This supports the
market. But Tapis/WTI is so wide that I think we'll see some barrels
come into the region," a seller said.
It also cancelled term imports of Libyan Sarir crude for the fourth
quarter of this year and replaced it with Chinese Wenchang and
Sudanese Nile Blend grades, digesting a further 1 million barrels of
crude that usually trades in Asia.
But Tapis APPI assessments have again surged above ICE Brent prices,
traders said, and the Tapis/Brent Exchange of Futures for Swaps (EFS)
for October was still seen at around $5 a barrel on Wednesday, leaving
Tapis-related grades well above crudes priced off Brent. This would
make West African grades more attractive.
The November Tapis/Brent EFS was seen at a much weaker level of $3.50
a barrel, though, which may offer some relief to sellers, if Tapis
APPI assessments came off, too.
India's Hindustan Petroleum Corp (HPCL), the second-largest
state-owned refiner, has issued its regular tender to import crude for
November loading, traders said [nSP167426].
Vietnam's state oil marketer Petechim has sold a partial cargo of
end-September/October loading Su Tu Den crude at a sharply lower
differential, traders said.
Petechim had tendered to sell a full cargo, traders said, but sold
only a partial lot at around a 50-cent-a-barrel discount to Minas
quotes to U.S. major Chevron, traders said. The prompt dates were
thought to have pressured the differential [ID:nSP179890].
Petechim has issued its monthly tender to sell 450,000 to 550,000
barrels of light sweet Ruby crude for November delivery, a trader said
[ID:nSP173929].
Petechim has also made a first offer to sell term Rang Dong crude at a
premium of $3.80 a barrel to Minas quotes, up 42 cents from the
current price [ID:nSP154582].
ICE Brent <LCOc1> rose 28 cents to $63.26 a barrel at 1006 GMT, down
about 70 cents from the close of Asian trading a day ago.
----------------------------------------------------------
Indonesia needs 15 Panamax type ships for coal transport
JAKARTA, Sept 14 Asia Pulse - The Indonesian National Ship-owners'
Association (INSA) said the country needs 15 units of Panamax type
ships for coal transport until 2010.
Procurement of the 15 ships will cost around US$390 million, INSA
chairman Oentoro Surya said.
Business in coal transport will be brisker with the government's big
plan to build coal-fired power plants having a total capacity of
10,000 megawatts to be completed before 2010.
Starting 2010, around 35 million tons of coal will be needed annually
to feed power plants and more ships will be needed to guarantee
supply.
Oentoro said INSA members should take the opportunity and not to let
the profitable business to fall to the hand of foreign ships.
-----------------------------------------------------------
Indonesia expected to gain from a surge in coal transport costs
JAKARTA, Sept 14 Asia Pulse - Indonesia is expected to gain from a
recent surge in the coal transport cost for being closer to the
market.
The coal freight rate has surged 200 per cent this year compared with
in 2005 because of limited ships available for leasing, the Indonesian
Coal Society (ICS) said.
Indonesia is closer to major coal markets in East Asia - South Korea,
Japan and Taiwan - compared with its main rival supplier Australia,
ICS Director Singgih Widagdo said.
Singgih said most analysts agree that there will be no sharp fall in
coal prices in 2007 as major buyers such as Japan have signed contract
prices with suppliers such as China.
He said the prices are predicted to fall to US$48-US$49 per tons in
2007 from around US$53 in 2006 in Japan.
-------------------------------------------------------------
Indonesia's Tuban Petrochemical to expand capacity
JAKARTA, Sept 14 Asia Pulse - PT Tuban Petrochemical Industries said
it will start de-bottlenecking work in its paraxylene factory next
year to expand its production capacity.
After the completion of the debottlenecking project, its capacity for
paraxylene will rise to 800,000 tons from 500,000 tons at present.
Company commissioner Amir Sambodo said capacity expansion is highly
feasible as paraxylene supply is far below domestic demand.
The nation needs about 1.2 million tons a year as against total supply
of 750,000 tons from two producers in the country.
Amir said the capacity expansion project will cost not more than
US$100 million as against US$800 million needed to build a new
factory.
-------------------------------------------------------------
Archipelago Resource swings into profit in H1
LONDON, September 14 (AFX) - Archipelago Resources PLC reported a gain
in the first half to end-June of 289,050 usd, up from a loss of
293,822 usd the previous year.
The company said its 85 pct owned Toka Tindung Gold Project in
Sulawesi, Indonesia has a defined resource of 1.7 mln ounces gold
equivalent of which 0.9mln oz will initially be mineable by open pit.
A drilling program is scheduled to commence in October 2006.
A number of operating permits remain to be issued before production
can commence in 2007 and the company said it thinks it is on track to
receive these permits in coming months, in line with the current
development timetable.
-----------------------------------------------------------
EN3 of South Korea to build bioethanol plants in S. Sulawesi
MAKASSAR, S Sulawesi, Sept 14 Asia Pulse - Energy Environment
Engineering (EN3) of South Korea will build bioethanol plants worth
trillions of rupiah in five districts in South Sulawesi, a company
executive said.
The plants to be built by EN3 using Indonesia's foreign investment
facility would be located in Enrekang, Barru, Pinrang, Sidrap and
Parepare districts, Park Chang-ho, EN3 president director, said here
after a meeting with South Sulawesi Vice Governor Syahrul Yasin Limpo
here Wednesday.
EN3 previously signed a memoranda of understanding on the planned
projects with the South Sulawesi provincial governemnt as well as the
municipal administrations concerned.
Chang-ho did not mention the plants' capacities nor the exact amount
of funds EN3 would invest in the projects.
"We seriously intend to build the plants, the first of their kind
outside Java island," he said.
South Sulawesi Vice Governor Syahrul Yasin Limpo said the provincial
administation would oooperate with the South Korean company in the
interest not only of the people of South Sulawesi but also of those of
the neigboring provinces of West Sulawesi, Southeast Sulawesi and
Central Sulawesi.
"We welcome EN3's plans and hope the company will build the plants
soon," he said.
--------------------------------------
China's Gasoline Exports Slump On Domestic Needs
By David Winning
BEIJING, Sept. 15 (Dow Jones)--China slashed its gasoline exports in half
during
the first eight months of 2006 as refiners adhered to government requests to
supply the domestic market and not chase higher margins from overseas sales.
Between January and August, gasoline exports totaled 2.29 million metric
tons, or 79,632 barrels a day, representing a drop of 51.5% on the 164,479 b/d
that China shipped overseas during the corresponding period a year earlier, data
released Friday by the General Administration of Customs showed.
Experts said the fall was driven by domestic demand as increasing numbers of
Chinese own and use cars, while the government acted to prevent a repeat of
shortages at filling stations that blighted southern provinces a year ago.
"(Chinese) refiners have been effectively ordered not to export much and that
is why we have seen a sharp drop in gasoline exports," said Victor Shum, a
Singapore-based analyst at consultancy Purvin & Gertz.
Markets likely to be affected by the decline in Chinese exports are clustered
in Southeast Asia and led by Vietnam, Indonesia and Malaysia. Some gasoline
stocks from China would normally have ended up in Singapore, which has a
gasoline blending market where products are later re-exported, Shum said.
But the decline in Chinese gasoline exports has created opportunities for
Taiwanese, Singaporean and South Korean firms to pick up the slack, he added.
The need to supply domestic markets has come at a cost to Chinese refiners,
who have been losing money on gasoline sales because of China's system of
retail price caps.
China Petroleum & Chemical Corp. - Asia's largest refiner and better known as
Sinopec Corp. - last month said its refining losses for the first half of
this year has widened to CNY16.61 billion ($2.09 billion), from CNY1.30 billion
during the corresponding period of 2005.
Friday's customs data also showed that China's kerosene imports totaled 3.37
million tons in the first eight months of the year, or 109,282 b/d.
This was up 92.8% compared with the 1.75 million tons or 56,748 b/d of
kerosene that China imported in the corresponding period of last year.
The sharp rise in kerosene imports was mainly due to domestic refiners'
reduction of kerosene production in favor of higher gasoline and diesel output.
China's January-to-August fuel oil imports rose by 17.2% on year, while
liquefied petroleum gas imports fell by 8.8%, customs data showed.
China's January-to-August diesel imports edged up by 0.1% to 260,000 tons, or
7,982 b/d.
Below is a table showing China's trade data on crude and oil products.
(In million metric tons)
(Source: General Administration of Customs)
Imports Aug %Change Jan-Aug %Change
On Yr On Yr
Crude 11.82 +34.9% 95.80 +15.3%
Kerosene 0.54 N/A 3.37 +92.8%
Diesel 0.03 N/A 0.26 +0.1%
Gasoline 0 N/A 0.04 N/A
Fuel oil 3.06 N/A 20.57 +17.2%
LPG 0.32 N/A 3.72 -8.8%
Exports Aug %Change Jan-Aug %Change
On Yr On Yr
Crude 0.73 +44.8% 4.15 -15.9%
Gasoline 0.32 N/A 2.29 -51.5
(Renya Peng contributed to the story.)
----------------------------------------
Petromindo Headlines,
Friday, Sept. 15, 2006
Oil/Gas:
- EWC, El Paso reach settlement on S. Sulawesi
power, gas assets
- Regional LNG: NWS gas plant back online
- PGN, Musi Rawas sign MoU on CBM exploitation
- PGN seeks loan from IDB
- JOB Pertamina-Talisman drills six more wells
in S. Sumatra
- Major foreign oil firms eye 30 oil and gas blocks
- ExxonMobil absent, hearing of Cepu Block delayed
Mining:
- Collection of tax on coal export stopped
- Archipelago provides update on N. Sulawesi
gold project
- Timah delists London Stocks Exchange
Power:
- EWC, El Paso reach settlement on S. Sulawesi
power, gas assets [also in oil/gas headlines]
------------------------------------------
Joyo Indonesia News Service
------------------------------------------
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