Sales purchase agreements between domestic oil contractors and foreign firms may hamper the government’s effort to reduce oil import by requiring state-owned oil and gas holding Pertamina to buy all oil lifting produced by the contractors, an official says. Previously, President Joko “Jokowi” Widodo told Pertamina to buy all oil lifting, the colloquial term for […]
Read MoreBank Indonesia (BI) raised its key rate on Wednesday in a move to maintain the competitiveness of the domestic financial market and to rein in swelling deficit in the current account. Following a two-day board of governors meeting, the central bank raised its seven-day reverse repo rate by 25 basis points (bps) to 5.5 percent. […]
Read MoreThe Southern Transport Corridor, a logistics network linking China’s western cities and ASEAN countries, is growing to be a vital artery. Goods from the western provinces of China can be shipped to Singapore through the Beibu Gulf in South China’s Guangxi Zhuang autonomous region by road, railway and waterways. The route also connects Europe to […]
Read MoreIt’s 5 pm on a Thursday, and you’ve just received an e-mail from your colleague in Bangkok. There’s an issue at the Thai office and your presence is urgently required to assist in the matter. This issue has to be resolved immediately or there will be a widespread impact in the group’s supply chain: for […]
Read MoreThe Energy and Mineral Resources Ministry opened on Monday tenders for six oil and gas blocks, three of which are onstream sites. The onstream blocks are South Jambi B in Jambi, Makassar Strait in South Sulawesi and Selatpanjang in Riau. The three blocks went straight to auction as the current operators will not extend their contracts. […]
Read MoreKUALA LUMPUR: Malaysian palm oil futures registered its sharpest daily decline in a month on Monday evening, falling for a third straight day on weakness in soyoil on the Chicago Board of Trade. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 1.7 percent at 2,204 ringgit ($538.88) a tonne at the end […]
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