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Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH


Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact on the operations of the country's upstream oil and gas (O&G) companies.

The ruling does not impact existing upstream contracts made under BP Migas since its establishment in 2002, as these are not invalidated by the court ruling.

Furthermore, the regulatory functions of BP Migas have been transferred to the Ministry of Energy and Mineral Resources with immediate effect.

Fitch believes that the immediate impact of the ruling is limited to possible delays on completion of contracts for oil and gas exploration, development and production that were under consideration at the time of BPMIGAS's dissolution, including both new and contract extensions.

Although upstream operators are not materially affected by this development, the ruling highlights regulatory and legal risks in Indonesia, especially in the natural resources sector. Fitch already incorporates a higher level of regulatory risk than other jurisdictions when assessing the credit quality of Indonesia resources companies.



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Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...


Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...


Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas • Funds ...


Wednesday, 30 May 12
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Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...


Monday, 28 May 12
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COALspot.com: Indonesia, the world largest coal exporter, shipped  31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...


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