Friday, June 22, 2018

Indonesia News

Crude Price Impacts Southeast Asia's Biodiesel Plans

Indonesia, Malaysia plan to use more palm oil to make biofuel. Industry, analysts sceptical of targets. The world's top palm oil producers Indonesia and Malaysia may have to curb plans to channel more of the commodity into biodiesel as tumbling crude oil prices render the edible oil twice as expensive as its fossil fuel alternative. Indonesia expects…

Indonesia’s Economic Success Hinges on Energy Investments

New IEA review of country’s energy policies lauds phase-out of gasoline subsidies as key first reform. Indonesia is enhancing the governance and transparency of its energy institutions and state-owned companies, reducing fuel subsidies and facilitating much-needed infrastructure investments, the International Energy Agency (IEA) said today in its second in-depth review of the country’s energy policies…

Indonesia Police Say Interpol Issues Red Notices for 3 Sinopec Execs

Indonesian police said on Tuesday Interpol has issued red notices, the closest to an international arrest warrant, for three Chinese executives suspected of fraud linked to a more than $800 million Sinopec oil terminal development in Indonesia. China Petroleum and Chemical Corp, or Sinopec, is the second major Chinese state oil firm in less than three years to find staff facing allegations of corruption in Indonesia…

Chevron Concludes Sale of Geothermal Operations in Indonesia

Chevron Corporation said its wholly-owned subsidiaries have completed the sale of Chevron's geothermal business in Indonesia to Star Energy Consortium. Chevron received the cash proceeds upon settlement on March 31, and will reflect the gain in first quarter 2017 results. The conclusion of the sale of Chevron's geothermal business in the Philippines is expected later in 2017.

Indonesia Seeks to Rejoin OPEC

Indonesia left OPEC in 2008 on becoming net oil importer. Energy minister to attend June OPEC meeting as an observer. Indonesia's energy minister said on Thursday he would seek President Joko Widodo's approval for the country to rejoin OPEC, seven years after leaving the oil exporters' group. If it returned, Indonesia would be the fourth-smallest producer in the Organization of the Petroleum Exporting Countries ahead of Libya…

Pertamina Plans to Develop South China Sea Border Areas

Energy company Pertamina plans to explore for oil and gas in areas close to Indonesia's maritime border in the South China Sea to assert the country's territorial rights, the upstream director of the state-owned company said. "The government needs to have activities around the borders and one of Pertamina's strategies is to support this," Syamsu Alam told Reuters in an interview on Monday.

Indonesia Offers 15 Oil Blocks amid Thin Industry Interest

Indonesia is offering 15 conventional and unconventional oil and gas blocks to potential bidders, government officials said on Friday, hoping more flexible terms will help reverse flagging interest in the sector after lacklustre performance in 2016. This year the government is applying new production sharing rules and will revise rules on recoverable costs and cut import duties on exploration equipment where possible…

JX Eyes Indonesia, Vietnam for 1st Big Refining Push into Asia

Japan's JX Nippon Oil & Energy Corp is looking at building refineries and petrol stations in Indonesia and Vietnam as fuel consumption slumps at home, in what would be its first major downstream oil investment in Asia outside Japan. Japan's biggest oil refiner sees the two markets as the most promising locations for investment due to their robust economic growth outlook and openness to foreign investment…

Coastal Contracts Buys Stake in Indonesian LNG Supply Chain

Image: PT. Jaya Samudra Karunia

Malaysian offshore service provider Coastal Contracts  is tapping into the growing liquefied natural gas (LNG) supply chain in Indonesia with the purchase of a 49% stake in T Jaya Samudra Karunia for US$6.55mil (RM27mil), reports the Star. Coastal Contracts has signed an MoU with PT. Jaya Samudra Karunia Internasional (JSK), PT. Jaya Samuda Karunia Gas (JSK Gas) and  Yudha Kurniawan Tanos.

Rosneft Delivers First Gasoline Cargo to Asia-Pacific

Energy giant Rosneft said on Thursday its trading arm had delivered an inaugural gasoline cargo to the Asia-Pacific, marking what could be Russia's first foray into a region dominated by OPEC producers from the Gulf. The 200,000-barrel cargo, bought by Rosneft from the international market and taken by Indonesian state energy company Pertamina, was delivered on free-on-board (FOB) terms to Malaysia.

Indonesia's Energy Minister REplaced Over Citizenship Controversy

Indonesia's president on Monday removed Arcandra Tahar as energy and mining minister, the state secretary said, following reports that he held both Indonesia and U.S. citizenship. Pandjaitan will also maintain his current position as coordinating maritime minister. Tahar, a former executive at Texas-based offshore engineering firm Petroneering, was part of President Joko Widodo's second cabinet reshuffle last month.

Premier Oil Seeks Buyers for Stake in Indonesia Gas Field

Premier Oil is seeking buyers for a 25 percent stake in the Tuna field development in Indonesia after reaching a gas sale deal with Vietnam, Chief Executive Tony Durrant said on Thursday. Premier and SKK Migas signed on Nov. 10 an agreement to sell gas to Vietnam from the Tuna development, Premier said in a trading update. The field holds around 500 billion cubic metres of resource, Durrant said.

Indonesia to Keep OPEC Membership Frozen

Indonesia will keep a freeze on its membership of the Organization of the Petroleum Exporting Countries (OPEC), deputy energy minister Arcandra Tahar said on Tuesday, following "directions" from the country's President. Indonesia's OPEC membership was suspended in December 2016, less than a year after it rejoined the cartel, when the net oil importer could not agree to production cuts.

V.Ships Wins Contract with Pertamina

FSO Pertamina Abherka (Photo: V.Ships)

V.Ships Offshore, part of V.Group, has been awarded the contract to provide operations and full technical management of the floating storage and offloading (FSO) vessel – Pertamina Abherka in Indonesia. This is the second vessel owned by Pertamina International Shipping to be managed by V.Ships Offshore. The FSO, currently operating at Poleng Marine Terminal…

Bangladesh Inks Deal with Indonesia for LNG Imports

© philipus / Adobe Stock

Bangladesh signed an agreement with Indonesia on Sunday to open talks on imports of liquefied natural gas (LNG), as the South Asian country turns to the supercooled fuel to fill a shortfall of domestic natural gas. A letter of intent was signed between two state energy companies, Petrobangla and Pertamina, after a meeting between Prime Minister Sheikh Hasina and Indonesian President Joko Widodo, who arrived in Dhaka on Saturday.

7 Million Tonnes of Indonesian LNG Uncommitted for 2017 Delivery

File Image: a modern LNG carrier underway (CREDIT: QGTC)

There are currently 63 uncommitted cargoes of liquefied natural gas (LNG) for 2017 delivery from Indonesia's Tangguh and Bontang projects, Wiratmaja Puja, the country's Director General of Oil and Gas, said on Thursday. "We are still oversupplied," Puja said, noting that the government was looking for committed buyers and that deals for 13 of the cargoes were currently being negotiated.

Indonesia to resume coal shipments to Philippines amid piracy concerns

Indonesia will resume some shipments of coal to the Philippines, a government official said on Sunday, after a months-long halt due to concerns about piracy in seas between the two archipelagos. Indonesia earlier this year slapped a moratorium on coal shipments to its neighbour after a string of hijackings by militants based in the southern Philippines, in which several Indonesian sailors were taken hostage.

Shell Indonesia Ramps up Lubricant Production

 Photo Shell

Just over one year from the start of its operations, Shell’s newest lubricant oil blending plant (LOBP), located in Marunda Centre, near Jakarta, Indonesia, has more than doubled its production slate and is now producing 99 different products. This includes its latest additions, Shell marine engine oils Shell Argina, Shell Gadinia, and Shell Melina. Shell…

BP eyes 119 LNG Cargoes Annually From Indonesia

File Image: CREDIT GAC

Oil major BP is targeting shipping 119 cargoes of liquefied natural gas (LNG) from its Tangguh project in Indonesia's West Papua province this year, including 22 for the domestic market, a company official said on Wednesday. BP expects to keep the same balance of shipments for export and the domestic market unchanged up to 2020, BP Indonesia country head Dharmawan Samsu told a parliament hearing.

AC Energy, Ayala Acquire Chevron's $3 bln Geothermal Assets

Philippine property to banking conglomerate Ayala Corp said on Friday two groups of companies in which its energy unit has stakes will acquire Chevron's geothermal assets in Indonesia and the Philippines, earlier valued at $3 billion. Ayala, owned by one of the Philippines' richest clans, is looking to expand its power generation business and is aiming to boost capacity to up to 2,000 megawatts by 2020, double a previous plan.