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Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
 The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the realization of private investment in the sector through various programs and regulations.
“Increasing production has been our concern and challenge. We must accelerate investment realization in exploration production and in infrastructure both for storage and distribution,” Darwin said during his inauguration ceremony Thursday.
The government initially expected to book up to US$25 billion investment in the sector, but later on the target was revised down to $18 billion due to the global crisis.
“I will continue what good aspects have been achieved and improve what needs to be improved,” Darwin said.
As a new minister, Darwin will be challenged to get the energy and mining sector to contribute more than 30 percent of the state revenue. In the oil and gas sector, he must work hard to anticipate declining oil production due to aging fields.
As for the mining sector, he must convince investors to comply with the enactment of the new mining law. He is also expected to solve the country’s increasing power deficit problem.
“We face tough challenges, but with good will and cooperation I am optimistic that we can triumph.”
Darwin is head of economic division at President Susilo Bambang Yudhoyono’s Democratic Party. His appointment as the energy and mineral resources ministry was unexpected to practitioners and analysts alike as he is relatively unfamiliar to the sector.
“To be honest, I was not aware of him before, but I expect he will do the best for the ministry,” said a ministry’s high-ranking official who refused to be named.
Energy analysts voiced similar arguments.
“I never heard any of his views on how to manage the sector.
But, hopefully with his doctorate in economics he can learn fast about urgent problems in the sector and will come up with accurate solutions,” energy analyst Kurtubi said.
Observer Pri Agung Rakhmanto of the Reforminer Institute said Darwin might need support from experts in the sector.
Former energy and mineral resources minister Purnomo Yusgiantoro said he believed Darwin could lead the ministry.
“He has a very strong educational background,” said Purnomo, now the new defense minister. In an earlier interview, Darwin said he was not a totally new face in the sector.
“In my early career at Bank Duta, I was in charge of lending credits to oil and gas companies. I know the business network from this experience.”
Darwin, born on Oct. 29, 1960, graduated from the University of Indonesia’s (UI) Economics Faculty in 1986 and later completed his masters study on business administration at Middle Tennessee State University, US, in 1994. This year he completed his doctorate program on finance and management, also at UI.
His employment history includes: dean’s senior advisor at UI’s economics faculty from 2006 until present, head of the economic and finance division of the Democratic Party from 2005 until present, deputy dean of UI’s faculty of economics from 2005 to 2006 and chief economist and investment banking director at PT Bahana Securities from 2000 to 2003.
Source: The Jakarta Post
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Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
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- PNOC Exploration Corporation - Philippines
- Australian Coal Association
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- Merrill Lynch Commodities Europe
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- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
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- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
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- Standard Chartered Bank - UAE
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- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
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- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
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- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
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- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Mjunction Services Limited - India
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- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
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- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
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- Economic Council, Georgia
- White Energy Company Limited
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- Thiess Contractors Indonesia
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- Kapuas Tunggal Persada - Indonesia
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- Petron Corporation, Philippines
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- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- The University of Queensland
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
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- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
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- Trasteel International SA, Italy
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
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