Wednesday, March 11, 2009
Oil, Gas, Mining Updates from Indonesia
Oil, Gas, Mining Updates from Indonesia
5 Reports: (Courtesy Joyo News Service
- Indonesia Feb Tin Exports +35% On Mo To 8,534 Tons-Trade Min
- Platts: Pertamina plans second year LPG import tender on demand surge
- Indonesia's United Tractors To Repay Debts Of $42.3 Mln
- 4 Firms To Buy Diesel Stock Surplus Of Indonesia's Pertamina
- Indonesia Govt To Sign Six Coal Bed Methane Contracts In May
Indonesia Feb Tin Exports +35% On Mo To 8,534 Tons-Trade Min
JAKARTA, March 11 (Dow Jones)--Indonesia's refined tin exports in February rose 35% on month to 8,534 metric tons, according to estimates released by the trade ministry Wednesday.
"Some producers delayed their shipments to February, which resulted in an increase in exports over January," said Agus Tjahjono, director of exports of mining products at the ministry. Indonesia exported 6,338 tons in January, said Tjahjono. The figure has been revised up from a previously reported figure of 6,186 tons as some smelters had submitted their export data late, he said.
Indonesia's February tin exports rose 15% on year from 7,431 tons in the same month a year ago. Indonesia shipped its tin exports in February to Singapore, Malaysia and China, according to the data.
Platts Commodity News
March 11, 2009
Pertamina plans second year LPG import tender on demand surge
Jakarta -- Indonesia's state-owned oil and gas company Pertamina is planning to issue a second 10-year tender to supply LPG in a bid to keep pace with surging domestic demand, a senior company official said Wednesday. The new tender, to be issued in the second half of the year, will seek around 500,000-1 million mt/year of LPG starting end-2009 or early 2010, the official said.
"We have to seek a second supplier to secure our LPG supply," Pertamina's trading and marketing deputy director Hanung Budya said. "We are preparing to hold a 'beauty
contest' to seek the second supplier in addition to Petredec."
Pertamina last year awarded a 10-year contract to Bermuda-based LPG trading and shipping company Petredec to supply 1 million mt/year of refrigerated LPG from 2009 to 2018. However, Pertamina is already forecasting that domestic demand will outstrip local production and Petredec's imports by 2010.
A national campaign launched in 2006 to convert millions of household users from heavily-subsidized kerosene for cooking to LPG by 2010 has proven more successful than expected, saving the government millions in subsidies but leading to a looming shortfall in LPG supply.
Pertamina's refineries can produce 850,000 mt/year of LPG and private refiners in the country another 1.15 million mt/year. Coupled with Petredec's 1 million mt/year, this will meet the 2009 consumption forecast of 3 million mt (20.5 million barrels), up from 2 million mt in 2008. However, Pertamina is forecasting demand will surpass 4 million mt/year in 2010 and continue rising.
Anita Nugraha, newsd...@platts.com
Indonesia's United Tractors To Repay Debts Of $42.3 Mln
JAKARTA, March 11 Asia Pulse - Publicly listed heavy equipment company PT United Tractors (UT)(JSX:UNTR) said it will repay debts totalling Rp465.38 billion (US$42.3 million) maturing this year. The debts include Rp136.85 billion owned by its subsidiaries and Rp328.5 billion (US$30 million) owed by UT. The debts owed by subsidiaries are partly in US dollars, yen and rupiah, UT Investor Relations officer Ari Setiyawan told the
newspaper Investor Daily.
The US$30 million debt of UT was in working capital credit from Bank of Tokyo-Mitsubishi UFJ Ltd, Ari said. He said the company still had credit facilities not yet used,
adding the company wanted to keep its debt to equity ratio below 25 per cent this year. The subsidiary of the Astra Group had a DER of 17 per cent by the end of 2008.
4 Firms To Buy Diesel Stock Surplus Of Indonesia's Pertamina
JAKARTA, March 11 Asia pulse - Indonesian state-owned oil firm companies which would buy its diesel oil stock surplus of 95,000 kiloliters, a Pertamina official said. "The four companies which are expected to purchase Pertamina's diesel oil stock surplus are PT Elnusa Petrofin, PT Patra Niaga, PT AKR Corporindo and Medco," Deputy Director of Pertamina for commercial and marketing affairs, Hanung Budya said here on
Tuesday. He said that the diesel oil that would sold by Pertamina constituted a stock surplus where the state oil company had secured a commitment of four companies to buy 95,000 kilo liters. He said that about 15,000 kiloliters of diesel oil were now under a sale negotiation process.
In the meantime, Pertamina Vice President Anang Rizkani Noor said that the selling of the diesel oil constituted a step by Pertamina to reduce its stock surplus. "We are targeting to reduce our stocks from 35 days at present to 25 days," he said.
Pertamina's non-subsidized diesel oil stocks have been piling up since the end of 2008. Diesel oil consumption by industry is declining from an average of 70,000 kilo liters per day to 58,000-59,000 kilo liters per day.
In the meantime, according to Pertamina's management board, there is an increase in diesel oil production at the refinery plants at home because Pertamina has changed the setting of its refinery plants to reduce kerosene production. Since the government launched the kerosene-to-gas conversion program, kerosene stocks are also increasing.
Indonesia Govt To Sign Six Coal Bed Methane Contracts In May
JAKARTA, March 11 Asia Pulse - The Indonesia Government will sign six cooperation contracts for the development of coal bed methane (CBM) reserve in May, an official said. Joint studies carried out by the six contractors in their respective concession areas have been completed, Oil and Gas Director General Evita Herawati Legowo said.
Evita said the proposals by the six contractors are part of 54 proposals submitted by prospective investors. Singning is expected in May but the signatories among the prospective investors and some details about the investment are yet to be announced, she said. The government hopes to sign a total of 14 CBM contracts this year, the newspaper Bisnis Indonesia said.