Wednesday, July 1, 2009

Oil and Mining Updates from Indonesia

Total, Inpex To Sell Gas To Indonesian Power Plant For 20 Yrs
- Exxon Mobil May Sell 20% Stakes In 2 Indonesian Blocks-Official
- TABLE-Indonesia June Minas crude rises to $72.13/bbl
- Asia Fuel Oil-Pertamina to buy 850,000 bbls in July
- Elnusa sells shares in IMN for Rp 598 billion
- Indonesia's Elnusa To Acquire Oil And Gas Block
(Courtesy Joyo News Service)
Total, Inpex To Sell Gas To Indonesian Power Plant For 20 Yrs
JAKARTA, July 1 (Dow Jones)--Total Indonesie and Inpex Corp.
will supply 20 million metric standard cubic meters of gas per
day to the Senipah power plant in East Kalimantan for 20 years,
an executive said Wednesday.
Ramli Akhmad, president director of Perusahaan Daerah
Kelistrikan dan Sumber Daya Energi, or PKSDE, said the company
will pay $3.5 per million British thermal units from 2011 to
2017 and $4.5/MMBTU from 2018 to 2031.
PKSDE will build the 80-megawatt power plant with PT Toba
Sejahtera in August and expects to finish construction in 2011.
Total Indonesie and Inpex will supply the gas from their
co-owned block in the Mahakam delta.
Exxon Mobil May Sell 20% Stakes In 2 Indonesian Blocks-Official
JAKARTA, July 1 (Dow Jones)--Exxon Mobil Corp. (XOM) is in talks
with Malaysia's Petronas Carigali Sdn. Bhd. on selling it 20%
stakes in two offshore blocks in Indonesia, a government
official said Wednesday.
"They have informed us about the plan," Achmad Luthfi, deputy
chairman for planning at upstream oil and gas regulating body BP
Migas, told Dow Jones Newswires.
Luthfi said Exxon Mobil intends to reduce its stakes to 80% in
the offshore Surumana and Mandar blocks to "share risks."
The U.S. company obtained the rights to the Surumana and Mandar
blocks, where it's still exploring for oil and gas, through a
bidding process in 2006 and 2007 respectively.
TABLE-Indonesia June Minas crude rises to $72.13/bbl
TOKYO, July 1 (Reuters) - The official Indonesia Crude Price
(ICP) for Minas has been calculated at $72.13 a barrel for June,
an industry source with direct knowledge of the matter said on
The June price, the highest since October 2008, was up by $10.69
from May, when it was set at $61.44.
The June ICPs for key grades were calculated as follows, in
dollars per barrel:
Minas 61.44 72.13 10.69
Ardjuna 57.07 68.45 11.38
Senipah Condensate 55.11 66.35 11.24
Attaka 58.49 70.11 11.62
Cinta 56.30 66.10 9.80
Duri 51.25 62.32 11.07
Widuri 56.33 66.19 9.86
Belida 58.09 69.24 11.15
Handil Mix 57.22 68.60 11.38
Lalang 61.49 72.18 10.69
Badak 58.49 70.11 11.62
Walio 61.24 71.93 10.69
From July 2007, Indonesia Crude Price (ICP) formula uses average
prices assessed by Platts (50 percent) and Japan's Rim (50
percent). (Reporting by Osamu Tsukimori)
Asia Fuel Oil-Pertamina to buy 850,000 bbls in July
SINGAPORE, June 30 (Reuters) - Indonesia's Pertamina plans to
import five spot cargoes of 170,000 barrels of 180-centistoke
(cst) high sulphur fuel oil for July, up from June levels of
three to four cargoes, trading sources said on Tuesday.
The state energy firm also has a term contract to buy between
one and three cargoes per month from its trading arm Petral in
the July-September quarter, traders said.
Pertamina buys fuel oil for Indonesia's state power utility
Perusahaan Listrik Negara (PLN).
Indonesia frequently suffers blackouts as its electricity grid
has a power margin reserve of only about 20 percent, instead of
the more normal 30 percent, to secure supplies.
Southeast Asia's biggest economy is trying to seek other sources
of energy such as coal and natural gas to meet rising power
demand, and to cut consumption of crude oil as its own reserves
It has a crash programme to add 10,000 megawatts of coal-fired
power stations to meet electricity demand that officials say is
growing at around 10 percent a year.
Fundamentals in the Asian fuel oil market have recently been
underpinned by steady marine fuel sales, but expectations of
heavier Western arbitrage inflows in July and August are
expected to limit the market's gains.
Western fuel oil cargoes arriving in Asia in July are likely to
rise 27-32 percent to 3.2-3.3 million tonnes from June, while
August inflows could come in around or above the average monthly
volume of 3.0 million tonnes, traders and shipping brokers said.
(Reporting by Jennifer Tan; Editing by Ramthan Hussain)
The Jakarta Post
Wednesday, July 1, 2009
Elnusa sells shares in IMN for Rp 598 billion
JAKARTA: Local oil and gas service company PT Elnusa has
divested all of its shares in an information and communication
service company PT Infomedia Nusantara (IMN), in a transaction
worth Rp 598 billion (US$58.58 million).
The shares were sold on Tuesday to PT Multimedia Nusantara, a
subsidiary of state telecommunications company PT Telkom, Elnusa
said in its official statement.
Initially, Elnusa owned 49 percent stake in IMN, which among
other things manages the Yellow Pages.
The divestment was made because IMN was not one of Elnusa's core
businesses, the statement added.
Half of the funds raised from the divestment will be used to
acquire news assets, which include oil and gas blocks that have
reached production stages.
Another 35 percent would be spent to upgrade its upstream
facilities, and the remaining 15 percent would be used to
finance its core business projects. – JP
Indonesia's Elnusa To Acquire Oil And Gas Block
JAKARTA, July 1 Asia Pulse - Publicly traded Indonesian oil and
gas exploration company PT Elnusa (JSX:ELSA), said it will set
aside Rp299 billion (US$29.9 million) to acquire oil and gas
blocks already producing this year.
Elnusa President Eteng A. Salam said the acquisition will be
financed with fund from the sales of 49 per cent stake it has in
information service company PT Infomedia Nusantara.
The company earned Rp598 billion from the sales of the shares to
PT Telekomunikasi Indonesia JSX:TLKM) recently.
The fund will be used to strengthen its capital in its core
business, Eteng was quoted as saying by the newspaper Investor

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