Iraq Oil and Gas Investment Offer to Indonesia

The offer was submitted to the Speaker of the House Marzuki Alie who comes to Iraq. Wednesday, May 4, 2011, 22:28 GMT Arfi Bambani Amri, Suryanta Susila Bakti Iraq troops celebrate a gradual return of U.S. troops (AP Photo / Karim Kadim) RELATED NEWS

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VIVAnews - The Iraqi government supports increased cooperation with the Indonesian government in the oil and gas (Gas).
It surfaced when House Speaker Marzuki Alie had a meeting with the Minister of the Republic of Iraq Oil Minister HE Dr. Hussein al-Shahristani, in Baghdad, Wednesday, May 4, 2011.
"With regard to crude oil, the Iraqi government is very supportive and ready to help Indonesia conduct cooperation if it wants to go back on the field," Hussein said during a meeting with Speaker of the House delegation to Iraq.
  He proposed, the Indonesian government to visit Iraq soon in order to develop the oil sector between the two countries as soon as possible. "Usually the oil contracts in Iraq takes place every year and we are ready anytime to make cooperation with Indonesia," he said.
  On occasion, the Speaker of the House Marzuki Alie said the current crisis hit Indonesia in the fields of oil, and the future demand for oil in Indonesia will increase. Therefore, the House expects the Government to allocate and reserve Iraqi oil production to Indonesia.
"Indonesia's oil reserves diminishing and will expire in the coming decades, because it is expected Iraq to reserve and allocate oil," he said.
  In addition, the Speaker of the House Marzuki Alie expect, an increase in co-operation export and import of fertilizer production, especially sulfur. "Indonesia expects fertilizer products, especially sulfur can be exported to Indonesia," he said. He added, in addition to fertilizers, Indonesia also requires the product of gas flares, the article Iraq has reserves of gas flares are pretty big.
  He said the visit to Iraq in addition to encouraging increased cooperation in the oil sector, also aims to improve relations between Indonesia and the Iraqi parliament that has lasted for 40 years ago. "The goodwill visit, the delegation met with Iraqi Prime Minister, Deputy Prime Minister, Vice President and the delegation also spoke with House Speaker Iraq. House of Representatives also met with the chairman of the upper house of Islam and various political figures in Iraq," Marzuki said in a release into the VIVAnews.
  In parliament, Marzuki said, he had a speech in the House of Representatives of the Republic of Iraq on the Constitution and democratic development in Indonesia, attended by hundreds of members of the Iraqi parliament. "The House wants an increase in the education sector, or a student exchange in which both countries give each other a chance to learn from each other Indonesian students in particular to send to Iraq as well as vice versa."
  He said the majority of Muslims should support each other, the way to improve Iraq-Indonesia trade cooperation which has been progressively decreasing. "We expect increased trade cooperation which had declined after the U.S. invasion of Iraq," he explained.
  Answer that, obviously Hussein, Iraq was producing sulfur and hybrids in large numbers. Therefore, it expressed readiness to cooperate with Indonesia to sign a long-term contracts related to the production of sulfur and hybrid.
"For the gas we have not been able to export because prioritizing domestic needs but after 6-7 years we are ready to export the gas in large numbers," said Hussein.
  Related LPG products, he added, Iraq will soon be producing LPG next year, and if Indonesia interested in the Iraqi government will fully support increased cooperation. "In the future there will be an important discussion, especially regarding the oil sector and its projects, and Indonesia can take a great opportunity to cooperate and invest in the sector," he said. • VIVAnews

Posted on 08.41 / 0 komentar / Read More

IMF Advises Indonesia Fuel Subsidy Limit

VIVAnews - The world caliber International Monetary Fund or the International Monetary Fund (IMF) participated spoke about government plans to limit the use of fuel oil (BBM) subsidy in the middle of world crude oil prices are more inflated.
IMF Senior Resident Representative in Indonesia, Milan Zavadjil, in Jakarta, Tuesday, May 3, 2011 opinion subsidized fuel restrictions in the country is actually already have established long ago. The reason, "Measures to limit the fuel subsidy is necessary not only because of the risk of rising international oil prices, but it is highly unproductive expenditure," said Milan Zavadjil in the building of Bank Indonesia, Jakarta, Tuesday, May 3, 2011.
IMF assess the Indonesian government should allocate budget subsidies on things more productive and provide a chain effect for the community.
Nevertheless, Zavadjil fully submit the issue of fuel restrictions on the Indonesian government. The IMF advised the government only really seriously and find an effective scheme to run the program.
Thinking about recent restrictions on subsidized fuel is re-rolling after a drowning because the government decided to cancel the plan in early April 2011.
This discourse is growing along with the spike in world oil prices. The increase was also reflected in the price of Pertamax, which are not subsidized. As of May 1, 2011 and then, Pertamax pegged at Rp9.050 price per liter, or 2 times the price premium is only Rp4.500 per liter.
As a comparison, albeit with different conditions, world crude oil price hikes have triggered the current petrol price increases in the United States. Regular gasoline rose a penny to be carrying U.S. $ 3.95 per gallon, or about Rp8.925 per liter. This price has risen 32 cents in the last month.
While in Indonesia, the high world crude oil price increase in gasoline prices sparked only unsubsidized like Pertamax and Pertamax plus. For the premium itself, the government remains in its decision to maintain prices at levels Rp4.500 per liter.
President Susilo Bambang Yudhoyono in a chance for National Development Planning Consultation (Mesrenbangnas) in 2012 had criticized the crude oil price rose sharply so that helped improve the petroleum and electricity subsidies. "If the greater will disturb the macro economy."
The President urged all regional leaders to seek savings in electricity and fuel. In fact, if necessary, local government (local government) could have issued a regulation for electricity and fuel consumption can be reduced.
Not to be outdone Spry, Minister of Finance (Finance Minister) Agus Martowardojo in an opportunity also to express his hope for a plan setting subsidized fuel consumption can be realized as soon as possible. In fact, a little more advanced, the government plans to gradually really will delete Premium products as automotive fuel.
Finance minister reasoned, fuel restrictions that continually postponed will threaten the government financially in this case the State Budget (APBN).
This statement is harder than the statements that had been issued by the former boss of Bank Mandiri. Previously, Agus believes only the government subsidy budget could still be saved with a program of subsidized fuel restrictions.
Despite the retreat from the original plan which subsidized fuel restrictions for Greater Jakarta, Agus was then still expect the program is still running with a wider coverage area in June 2011.
Premium Consumption
The study by Tim restricted fuel digawangi by three prominent universities in Indonesia, showed that the price increase Pertamax be Rp8.000 per liter, automatically create 10 percent of users would switch back to consume Premium.
This means that there will be increased consumption of premium due to the transition Pertamax users who ultimately burden the growing fuel subsidy.
Signaled the increasing consumption of premium has been seen since the last three months. Data as PT Pertamina (Persero) showed, during the first quarter of 2011, consumption was recorded 3 percent premium over a lot of capacity that have been defined. This year, the government allocates the volume of subsidized fuel at 38.5 million kl (KL).
BPH Migas also noted the decline in consumption in February 2011 Pertamax ago. Non-subsidized fuel consumption reached 53 054 KL, down compared to January 2011 which reached 62 727 KL.
As for consumption in February 2011 Premium, BPH Migas noted an excess of quota limits have been set as many as 1.7 Million KL. Premium Consumption in February 2011 reached 1.82 million KL.
Plan restrictions and the elimination of fuel subsidies Premium is not a workable policy for granted. Energy Observer, Pri Agung Rakhmanto, assess the government's plan removes premium is not unreasonable.
Pri Agung said the government's plan to push through a ban on the use of fuel subsidies Premium for only the black plate vehicle back and forth is not clear. Moreover, should eliminate subsidies and remove the Premium. "This is very serious challenge," said Executive Director of this Institute Reforminer.
Moreover, the infrastructure was subsidized fuel in Indonesia is very bad. For example, when previously there were plans to transfer Premium Pertamax for private cars in Greater Jakarta, many public refueling stations (gas stations) are not ready. Dozens of gas stations have to add more investment in order to sell Pertamax.
• VIVAnews

Posted on 03.20 / 0 komentar / Read More

Antam Menlonjak 71 Percent Profit

Jakarta (ANTARA News) - PT Antam (Persero) announced earnings that are attributable to the owners of the parent entity in the first quarter of 2011 jumped 71% compared to first quarter 2010 to Rp346, 6 billion.
Earnings per share (Earning Per Share, EPS) stood at Rp36, 39 in the first quarter of fiscal year 2011 compared to same period in 2010 amounted to Rp21, 20.
The increase was principally due to higher sales volumes and selling prices ferronickel. In the first quarter of 2011, Antam has presented the company's financial statements under Statement of Financial Accounting Standards (SFAS) which became effective as of January 1, 2011 who were referred to the International Financial Reporting Standards (IFRS).
Following the increase in demand for nickel which encourage increased sales volume, unaudited revenue in 1Q11 Antam jumped 20% over the same period in 2010 to Rp1, 99 trillion.
In 1Q11, ferronickel sales volume rose 33% to 2209 TNi in line with increasing demand in the first quarter of 2011 compared to same period in 2010. However, ferronickel sales volume should be higher considering the persistence of ferronickel shipments in transit.
Antam's ferronickel shipments to consumers in Europe delayed due on March 16, 2011, the cargo ship MV Holy Light of PT Samudera Indonesia Tbk, which transport ferronickel was hijacked in the waters around Somalia.
Although there is piracy ferronickel causing delayed delivery to customers in Europe, ferronickel company has been protected with full insurance against possible loss and damage to cargo.
With the rising price of ferronickel by 31% to U.S. $ 12.32 per pound, revenue from ferronickel rose 70% to Rp538 billion. In 1Q11, ferronickel production volume in the first quarter of 4836 recorded TNi or up 10% compared to 1Q10 to support sales to meet market demand.
Ferronickel production volume has reached 27% of 2011 production target of 18,000 TNi.With an increase in demand, sales volume of nickel ore rose 25% to 1,626,806 wmt by volume of nickel ore production rose 29% to 2,008,148 wmt.
Increased production of nickel ore to meet increasing demand remains high and make revenue from nickel ore in 1Q11 increased by 23% compared to 1Q10 to Rp654 billion.
With no more trading activity to reduce the risk of fluctuations in gold prices that are difficult to predict, gold sales volume reached 1730 kg, down 16% compared to the first quarter of 2010.
Meanwhile, the volume of gold production reached only 15% of the target in 2011 or at 588 kg.
Achievement of gold production fell 14% compared to first quarter 2010 due to decreasing ore grades comparedby the year 2010 in Pongkor and has not done in vein mining planned in Cibaliung. Despite a decline in sales volume, increased prices by 26% to U.S. $ 1,411.24 per toz made of gold revenue edged up 1% to Rp698 billion.
Although Antam no longer produces bauxite, Antam is still making sales from stockinventories at the Deer. The volume of sales recorded 130,218 wmt with export value reaching bauxite AntamRp14 billion.
With a sharp increase in sales, gross profit increased by 32% Antam 1Q10 compared to Rp626 billion with gross margin value of 31% compared to 29% in the first quarter of 2010. Antam's recorded cost of sales rose 16% to Rp1, 4 trillion, primarily driven cost increases fuel consumption by 26% to Rp284 billion and the cost of material usage by 47% to Rp148 billion.
Increase in both components of these costs in line with increased production of ferronickel.
Antam's operating profit jumped 36% to Rp470 with the value of the operating margin by 24%, greatercompared to operating margin in 1Q10 by 21%. Profit before tax rose sharply Antam72% to Rp466 billion, with the heading Other for Rp106 billion, mostlyconstitutes acceptance of the final invoice from ferronickel exports in 2010. Income tax expense Antamrecorded Rp120 billion, up 70% compared to 1Q10 following the increase in corporate profits.With the value of cash and cash equivalents amounted to Rp 4 trillion and Rp919 billion investment loan amount, Antamstill has a net cash position
Editor: BambangCOPYRIGHT © 2011

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Posted on 07.07 / 0 komentar / Read More