Exxon to Be Indonesia's Top Oil Producer
Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia's biggest oil producer, the country's upstream oil and gas regulator (SKKMigas) said.In second place Chevron Corp unit Chevron Pacific Indonesia is expected to produce 190,000 bpd of crude oil in 2019, SKKMigas chief Dwi Soetjipto told reporters on Wednesday.State-owned Per
Indonesia to Issue Rules on Crude Oil Sales Next Week
* Indonesia expects to issue rules next week prioritising Pertamina and other domestic refinery operators in sales of crude oil produced locally by contractors, Oil and Gas Director Djoko Siswanto said on Wednesday* The rules require Pertamina to agree on crude purchases at prices based on business negotiations with domestic oil producers, Siswanto told reporters at a news conference* This could affect up t
Indonesia's Pertamina to Take Over Chevron's Rokan Block in 2021
Indonesia has decided Pertamina will take over operation of the Rokan oil block, the country's second-biggest crude producing field, once Chevron's operating contract there expires in 2021, Deputy Energy Minister Arcandra Tahar said on Tuesday.Rokan has been a focus area for Chevron, which asked Indonesia earlier this year to extend…
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture, Indonesian officials said on Wednesday.Indonesia's energy minister had issued a decree terminating Chevron's Makassar Strait production sharing contract (PSC) after it decided not to extend its operation of the block beyond 2020…
Pertamina Ends 'Unfeasible' LNG Terminal Project
Indonesia's state owned energy holding company, Pertamina, has decided not to go ahead with what would have been the country's second land-based receiving terminal for liquefied natural gas (LNG), its chief executive said on Monday.Indonesia has forecast sharp increases in gas demand after 2020, but increases in domestic consumption…
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.
Brent Oil Climbs Above $50 for First Time Since Early June
Brent crude oil rose above $50 per barrel for the first time since early June on Thursday, adding to gains made the previous session when falling U.S. crude and oil product inventories lifted the market. Brent futures, the international benchmark for oil prices, stood at $50.10 at 1257 GMT, 40 cents up from their last settlement. U.S.
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…
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…
Pertamina to Go Solo on Balongan Refinery
The decision to go it alone on the project, which is on the north coast of Java, comes after the expiry in November of an initial agreement with Saudi Aramco from 2015 on upgrades of the Balongan and Dumai refineries. The state-owned Saudi oil company had expressed an interest in the project as recently as December. "The process of forming a partnership was taking a long time…
Pertamina Signs Amended PSC for Mahakam Gas Block
Indonesia's Pertamina on Tuesday signed a production-sharing contract amendment for the Mahakam block, an energy ministry official said, before it takes over operating the country's top producing gas field in January 2018 from French oil major Total. The amendment allows Pertamina to recover any costs on the Mahakam operations in 2017…
Saudi Aramco to provide 270mb daily to Indonesia Refinery
Aramco eyeing up to $28 bln in Indonesia refinery projects; Pertamina to announce winner of $13 bln Tuban project on Thursday. Energy giant Saudi Aramco is ready to supply up to 270,000 barrels per day (bpd) of crude oil to a refinery it will jointly upgrade with Indonesia's Pertamina , chief executive of the Southeast Asia state-owned energy company said on Monday.
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.
Indonesian Energy Company to Resume Drilling Near Mud Volcano
Indonesian energy company Lapindo Brantas plans to resume drilling for gas near the site of a mud volcano, its CEO said, referring to a disaster that some scientists say it helped to create around 10 years ago. The Sidoarjo mud volcano, which started erupting in May 2006 near Indonesia's second-biggest city of Surabaya, inundated 12 villages and has displaced around 60,000 people.
ConocoPhillips, Chevron Mull Indonesia Oil & Gas Stake Sale
U.S.-listed energy giants ConocoPhillips and Chevron Corp plan to sell their interests in a key oil and gas block in Indonesia and the government has received written requests for the same, an energy ministry official said. Several companies have expressed interest in buying the stakes in the South Natuna Sea Block B, Upstream Oil and Gas Director Djoko Siswanto said on Friday, without giving details.
Indonesia Expects Total to Decide on Mahakam within days
French oil firm Total will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the country's energy minister said on Friday. From Jan. 1, 2018, state energy company Pertamina will take over as operator of Indonesia's top gas producing field from Total. But it is not yet clear how Total and other partner Japan's Inpex…
Oil Majors Praise Indonesia's New Approach to Investment
Efforts by Indonesia's new administration to attract investment to the country's troubled energy sector are being viewed favourably by energy giants Exxon Mobil and Chevron. Graft, regulatory, legal and contractual uncertainties have undermined energy investment in Southeast Asia's biggest economy. Aging wells and a lack of exploration…
Arun LNG to Ship Final Cargo
Indonesia's Arun liquefied natural gas (LNG) project in Aceh in northern Sumatra has stopped producing the super-cooled fuel as it switches to being a receiving and regasification terminal, an official from the plant said on Tuesday. Indonesia is still one of the world's biggest LNG exporters, but with domestic production slipping…
Indonesia Sees 11% Drop in Coal Exports
Indonesian coal exports are expected to drop 11 percent this year due to lower production, a government official said on Friday, as miners grapple with new rules the industry fears will put some firms out of business. Indonesia ships about $2 billion worth of coal a month, one of its largest exports by value and making it the biggest exporter of thermal coal in the world.
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…
