Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Indonesia  News  >>   Energy  >>   Indonesia hopes stricter supervision reduces oil shutdowns
NEWS UPDATES Asean Affairs        10 January 2011

Indonesia hopes stricter supervision reduces oil shutdowns

Related Stories

 January 3,2011
Indonesian coal production surges

November 30, 2010
Indonesia to push coffee

October 25, 2010
Indo land reform criticized

October 20, 2010
Indonesian sugar production down 25 percent

October 9, 2010
Indonesia to Import Rice

June 15, 2010
Indonesian ag sector to get Asian, Mideast investment

June 10,2010
Indonesia: Marijuana, fishing and many more businesses are now closed for investment

With demand for oil and natural gas rising as the economy continues to grow, the government is taking steps to keep a closer eye on the resources.

It plans to tighten supervision of oil companies' production to reduce losses from unplanned shutdowns, a government official said last week.

"We have a special program to watch over oil production so the number of unplanned shutdowns will be reduced," said Evita Legowo, director general of oil and gas at the Energy Ministry.

According to the upstream oil and gas regulator, BPMigas, 59 percent of the country's total oil loss last year came from unplanned shutdowns that resulted in losses of 14,819 barrels per day.

A leak in a gas pipeline operated by Transportasi Gas Indonesia that transferred fuel to Chevron Pacific Indonesia in Duri, Riau, forced CPI to shut down 2,420 wells in November.

Losses from the accident were initially estimated at 500,000 barrels of oil, though that figure was later revised down.

Oil production reached 954,000 bpd last year.

That was below the target of 965,000 bpd the government included in its 2010 state budget.

The government raised its target to 970,000 bpd for 2011, though oil and gas companies forecast a more pessimistic 952,300 bpd.

Evita said the government would form teams of experts to research and watch over companies' maintenance practices to reduce unplanned shutdowns.

Raden Priyono, the head of BPMigas, said stricter supervision was only one step toward optimizing oil production.

Another step, he said, was sorting out problems that companies face in extracting oil and gas in Indonesia, particularly land acquisition and environmental regulations.

"I am sure that we will still meet our target," he said.

The government on Dec. 20 announced new regulations it said would reduce uncertainty in the oil and gas industry and attract more investment.

However, the Indonesian Petroleum Association has voiced concern that the new regulations would have little, if any, effect on improving investment.

Sammy Hamzah, vice president of the IPA, said the regulations would discourage investors rather than provide them an incentive to invest.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code


Today's  Stories    10  January 2011 Subsribe Now !
• Cambodian private sector unwilling to support tourism
Subcribe: Asean Affairs Global Magazine
• Indonesia hopes stricter supervision reduces oil shutdowns Asean Affairs Premium
• Indonesia may lift import duties to ease prices
• Malaysian Maybank's acquisition strategy
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry


• Philippine finance debt prepayment nixed
• Thailand's rice traders shift focus
• Japanese car cooperation now doubtful
• Vietnam fails to meet 10-year tourism goals
Asean Analysis    10 January 2011 Advertise Your Brand
• Rallies start 2011 in Thailand off on a wary note Sponsor Our Events
Asean Stock Watch    10 January 2011
• ASEAN will look to USA on Earnings
Global News Impacting Asia    17 November 2010
• Bank of America sees Asian inflation
• Lloyd’s increases insurance push in Malaysia
• Wells Fargo analyst on euro
• Obama’s visit to Asia

ASEAN NEWS UPDATES      Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs  
04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com