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2017-11-01 13:20:00

INDONESIA NEED SAUDI'S LPG

INDONESIA NEED SAUDI'S LPG

 

PLATTS - Indonesia plans to increase LPG imports from Saudi Arabia and the UAE in a bid to meet rising domestic demand, Energy and Mines Ministry spokesman Dadan Kusdiana said.

State-owned oil and gas company Pertamina's LPG requirements are currently around 6 million mt/year, he said.

"The government of Saudi Arabia is expected to help with a direct purchase of LPG from Saudi Aramco to Pertamina; the portion of Aramco's LPG is only 13% of the company's total needs," he said.

Discussions were held between Energy and Mines Deputy Minister Archandra Tahar and Saudi Arabia and UAE officials recently, he said.

Indonesia has asked the government of the UAE to facilitate the direct purchase by Pertamina of LPG from ADNOC, Kusdiana said.

Indonesia's consumption quota for subsidized LPG was set at 7.06 million mt in the 2017 state budget, up from 6.25 million mt for 2016, SP Global Platts reported earlier.

Indonesia and Saudi Arabia had earlier agreed to set up a joint ministerial level commission to help speed up planned investments by Saudi companies in Indonesia, including cooperation between Pertamina and Saudi Aramco in an oil refinery project in Cilacap in Central Java, Kusdiana said.

Pertamina and Saudi Aramco have agreed to increase the capacity of the Cilacap refinery to 370,000 b/d from 348,000 b/d, and on investment of approximately $5.8 billion. The project is expected to come on stream in 2021, but may be delayed to 2023.

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Earlier:

INDONESIAN OIL UP 12%
2017, August, 17, 15:10:00

INDONESIAN OIL UP 12%

Indonesia's state-owned Pertamina has produced 343,000 b/d of crude oil in the first-half of 2017, up 12% year on year, upstream director Syamsu Alam said late Wednesday. "I think the crude production this year can meet our 2017 target of 354,000 b/d. But gas production may be ... lower compared with the target of 2.08 Bcf/d, due to lower demand and some gas fields [not being able to] produce," he said.

 

 SOUTH CHINA SEA SOVEREIGNTY
2017, April, 6, 18:45:00

SOUTH CHINA SEA SOVEREIGNTY

China claims almost all of a large stretch of sea between Taiwan, Malaysia, Indonesia, the Philippines, Brunei, Vietnam and Japan. The trouble is, between them, these seven other states all do too.

 

 INDONESIA NEEDS $80 BLN INVESTMENTS
2017, February, 10, 18:30:00

INDONESIA NEEDS $80 BLN INVESTMENTS

Indonesia needs to invest $70 billion to $80 billion in gas infrastructure through 2030 to avoid a potential gas shortage, as domestic consumption growth outpaces supply, state-owned energy business Pertamina said Tuesday.

 

 INDONESIA LEAVES OPEC
2016, December, 1, 18:30:00

INDONESIA LEAVES OPEC

OPEC had proposed Indonesia cut oil production by about 37,000 barrels per day (bpd), or about 5 percent of its output, which would dent the already slipping oil rent in Southeast Asia's largest economy. Indonesia's Energy and Mineral Resources Minister Ignasius Jonan, who attended the Vienna meeting, said the only reduction Indonesia could accept was a cut of 5,000 bpd, which had been approved in the country's 2017 budget.

 

 MALAYSIAN - INDONESIAN LNG
2016, August, 31, 18:40:00

MALAYSIAN - INDONESIAN LNG

In recent years, given the huge potential in Indonesia LNG market, JSK has ventured into the LNG supply chain. Recently, it was awarded the LNG re-gasification and storage contracts to support a gas-fired power plant in Bali, Indonesia. Following the successful completion of the deal, Coastal Contracts would have joint control over JSK Gas’s operating subsidiaries and assets. JSK Gas, through its 99% owned subsidiary Benoa Gas Terminal (BGT), would be engaged in the operations and transfer of a floating LNG regasification unit over a five-year contract period.

 

 WBG WANTS INDONESIA
2016, June, 22, 18:20:00

WBG WANTS INDONESIA

“This is a critical opportunity for Indonesia to implement further reforms that will enhance the competitiveness of its manufacturing and services sectors, especially tourism. In addition to ongoing reforms, a sound industrial strategy will be key, focused on technology transfer or capacity development in terms of product design, engineering and development in promising industries. To upgrade industries and climb the technological ladder, a strong partnership with the private sector will be crucial,”

 

 SAUDI INVESTMENT TO INDONESIA
2015, November, 27, 20:00:00

SAUDI INVESTMENT TO INDONESIA

"Indonesia is an important country for Saudi Arabia, a rising global economy, we would like to be a part of the growth of Indonesia," Saudi Aramco CEO Amin H Al-Nasser said at the signing of the initial agreement to upgrade the Cilacap refinery in Indonesia's Central Java province.

 

 

 

Tags: INDONESIA, SAUDI, LPG

Chronicle:

INDONESIA NEED SAUDI'S LPG
2018, May, 23, 10:50:00

OIL PRICE: ABOVE $79 ANEW

REUTERS - Brent LCOc1 futures fell 43 cents, or 0.5 percent, to $79.14 a barrel by 0218 GMT, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. U.S. West Texas Intermediate (WTI) crude CLc1 futures eased 25 cents, or 0.4 percent, to $71.95 a barrel, having climbed on Tuesday to $72.83 a barrel, the highest since November 2014.

INDONESIA NEED SAUDI'S LPG
2018, May, 23, 10:45:00

HARD OIL MARKET

FT - Most oil majors can now cover dividends and capital expenditure at prices around $50 per barrel, meaning that, at $80, they make a healthy surplus.

INDONESIA NEED SAUDI'S LPG
2018, May, 23, 10:40:00

U.S. THE WORLD'S TOP

EIA - The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. The United States has been the world's top producer of natural gas since 2009, when U.S. natural gas production surpassed that of Russia, and the world's top producer of petroleum hydrocarbons since 2013, when U.S. production exceeded Saudi Arabia’s. Since 2008, U.S. petroleum and natural gas production has increased by nearly 60%.

INDONESIA NEED SAUDI'S LPG
2018, May, 23, 10:35:00

U.S. - CHINA ENERGY TRADE

PLATTS - China became the largest contributor to global LNG consumption growth in 2017. It surpassed South Korea as the world's second largest LNG importer and its share of global LNG demand is expected to converge with that of Japan by 2030.

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