Medco Put Fund USD400 Million in Libya
Stock Report April 26th, 2010
JAKARTA – PT Medco Energy International Tbk (MEDC) plans to sign with government approval Commercially Libya Libya-related projects in this March.
Furthermore, the company will form a joint venture with the state peusahaan Libya, Libyan Investment Authority (LIA) with a portion of ownership 50-50.
“Medco will invest half (USD400 million) of total project investment block approximately USD800 million Libyans,” said Commissioner MEDC Hilmi Panigoro in Jakarta, Wednesday (10/3/2010).
Furthermore, Hilmi said the project funding process is submitted to the MEDC subsidiary in Libya. Joint venture to work on the project, just starting out three years after the operation. “In three years will begin to produce. Approximately 50 thousand barrels per day,” he added.
Meanwhile, the related projects in Yemen, MEDC is doing the exploration-drilling on two blocks in Yemen. The company also has opened a branch office in Yemen. Where the company has a stake of 45 percent of the project there.
On the other hand, identifies the starting block LION producing gas in April 2010 will increase gas production capacity of 130 million MEDC cubic feet to 180 million cubic feet. Hilmi said the current focus of the company working on the project LION. “The project will produce gas LION approximately 50 million cubic feet,”
Revenue PGN Facing Problems in West Java
Portfolio April 26th, 2010
JAKARTA-Income (revenue) PT Perusahaan Gas Negara (PGN), Tbk. threatened if the problem upstream at hand in West Java is not quickly resolved.
Estimated, the production gas in the area can be decreased approximately 20 percent, or for 80-150 million standard cubic feet per day (mmscfd).
“Revenue we can decrease if the problem is not quickly done,” said Director PGN Hendi
Priyo Santoso, after the inauguration Utilization Distribution Network Gas for Household and signing of the Memorandum of Understanding Distribution Network Gas for Household in 2010 in the office of the Ministry of Energy and Mineral Resources, Jakarta, Thursday (18/3/2010).
For that, he revealed the matter will be resolved so that revenues do not need
undermined and it will perform repairs on some equipment in the upstream.
“We will coordinate with the pemeirntah, it was sealed again,” said he.
Meanwhile, for the decline in production nationally, he declared for 300 mmscfd,
including the approximately 80-150 mmscfd it.
As a result, PGN difficult to fulfill contracts already got.
“This we use entirely to meet the contract existing. Not exported, to fulfill the contract it is difficult,” explained her
Bank Mandiri Maluku Investment Facilitation Day
Portfolio April 26th, 2010
JAKARTA – PT Bank Mandiri Tbk will facilitate the meeting of major corporations with stakeholders in Maluku and North Maluku in Maluku Investment Day event.
This is for exploration investment in both the province. The plan will be meeting in early April 2010.
The objective, namely to optimize the economic potential in these two provinces so as to promote significant economic growth in that region.
Earlier in October 2009, Mandiri also has held similar events for the province of Papua and Papua Barat. In these events some investors interested in investing in plantation sector in Papua and West Papua and, among others, Sinarmas Group, Wings Group, Sampoerna Agro, Medco Agro, Wilmar, Sungai Budi, BEST, Harita, Union and Wake Sampoerna Triputra Copyright, Example Resources , Taniti Group and other investors.
Chief Economist, Bank Mandiri Mirza Adityaswara, in his written statement received by Legal to say, this meeting is very important to create synergy between the corporation as an investor with the government and banks to remove obstacles to investing in the province of Maluku and North Maluku.
“Both provinces have a lot of potential in several sectors like fisheries, tourism and mining,” he said.
Mirza continued low investment realization in the midst of high economic potential in these two provinces due to several obstacles. Like, geographical conditions and most of the conditions of infrastructure, especially roads, housing, electricity, and transportation are not sufficient to support the business activities and daily life.
In addition, other barriers are associated with the development of human resources (HR) which must be improved, so that communities can play an active role as agents of development.
Other factors, management needs stability and security environment conducive to investment move. Bank Mandiri to see local government in Maluku and North Maluku shows a strong desire to build a better region to create a climate of business certainty and invest in the long term.
“Keep in government and private partnerships to facilitate economic activities so that the potential of these provinces can be used optimally for the national interest,” said Mirza.
Fed policy hoist the Black Gold Price
Gold Investing April 26th, 2010
NEW YORK – Crude oil prices the world managed to get close to USD83 per barrel in trading Wednesday (17/3/2010) local time, along with the statement the Fed to keep interest rates low.
As quoted from The Associated Press, Thursday (18/3/2010), the price of the reference oil to contract April rose $ 1, 23 to USD82, 93 per barrel in trading the New York Mercantile Exchange (NYMEX). While in London, oil prices of Brent rose $ 1, 43 to USD81, 96 on the ICE Futures.
The Energy Information Administration said last week’s oil reserves rose 1 million barrels to 344 million barrels. Previously, analysts predict an increase of 1.9 million barrels.
The increase in oil prices is also influenced by the strengthening of the stock market. By midday trading, the Dow rose 44 points was triggered by a statement of the Fed and the Bank of Japan that will keep the benchmark interest rate low.
In addition, the meeting of OPEC agreed to not change the production targets this year, also helped boost the price of oil.
In trading NYMEX to contract April, the price of liquid oils rose 2.52 cents to $ 2, 14 per gallon, gasoline rose 3.47 cents to $ 2, 31 per gallon, and natural gas fell 4.4 cents to $ 4, 3 per 1,000 feet cubic.
Just to remind, the Fed keep interest rates near zero percent for a “period” and even sounded more optimistic.
The central bank expressed when the labor market will be stronger after a recession deepest and provide evidence of the movement as a promise to keep borrowing costs at the lowest level.
However, a note about the housing sector and the outlook for economic recovery is likely to be at the level of moderate. In addition, inflation will remain under control, interest overnight interbank be in the range of 0.25 percent.
Following that decision, most of the major banks are in direct contact with the Fed, predicted a rate hike in the fourth quarter
Login Register Rupiah Currency Weakest 10th in the World
Forex April 26th, 2010
BANDUNG – Rupiah inserted into ten groups of the weakest currencies in the world. This is caused by fluctuations due to the volatility of the rupiah by many speculators.
This was revealed by the Director of Currency Management Group (CMG) Farial Anwar, now a journalist workshop on economic and monetary BI & Monetary Instruments Foreign Exchange Market, in Bandung, West Java, on Friday (5/12/2008).
He mentioned that, from 10 eyes of the world’s weakest currency, the rupiah is ranked sixth after Vietnam and Saubomi. The first rank in the occupied by Zimbabwe, followed by Somalia and Turkmenistan.
Farial explained, poor rupiah volatility due to very large, which is currently down sharply compared to other currencies.
In December 2007 compared to December 2008, the rupiah fell 28 percent from the level of Rp9.000 to Rp12.000 per U.S. dollar.
“Unlike the Thai currency Bath, in December 2007 compared to December 2008 only down five percent from 33.69 to 35.55 Bath Bath per USD,” he said.
Bad predicate rupiah, when it was recognized by the Bureau of Monetary Policy Hendar BI. However, he stressed in previous years, the rupiah has also been achieved as the best currency.
Farial added, there are some very simple reasons volatile rupiah against the U.S. dollar, such as free foreign exchange regime, the system of freely floating exchange rate, forex loans, and dependence on large U.S. dollar.
In addition, Farial also revealed, the placement of foreign funds in SBI also be a factor weakening rupiah. Therefore, steps anticipation of weakening rupiah happens, all derivative transactions undertaken by the company must have its underlying transaction.
However, with restrictions on the purchase of dollars with no underlying transaction up to USD 100 thousand per month, this policy affects the dollar to decrease speculation.
“Why let in foreign kok SBI, SBI but not for domestic monetary management, let alone we must also pay interest to foreigners, it is better for society,” he said
