‘The Oil and Gas Blocks Fail To Entice Investors’article was published in The Jakarta Post on May 9. In the article, it is quoted that the failure to find a winning bidder for all of the eight oil and gas blocks put up for tender last year stemmed from “weak oil prices” and “the terms and conditions that are offered by the government”.
How to identify the correct indicators and reward system to improve safety performance. I recently was asked by a global client in the mining industry for advice on the company’s plans to introduce a new variable compensation system for employees related to safety performance.
Former Rio Tinto CEO Tom Albanese believes the commodity downturn has reached the bottom of the trough, and is on its way up once more.
Over the year to date iron ore has moved from strength to strength, with its rally only now begin to falter, whilst gold and silver have outperformed market expectations, reaching their highest point since January 2015, a massive shift away from the spiraling markets seen at the end of last year.
Dashcam gives witness to the driver accused by third party witnessof speeding and poor lane discipline. There are many reasons why the inc-cab Vehicle CCTV equipment is taking a foothold in transportation, mining, public transport and school buses, but safety is the primary reason. In developed countries the surveillance of public transportation, commercial vehicles, stations and terminals are just a matter of good business practice.
Gloomy Outlook as BHP Billiton is considering quitting its coal assets in Indonesia, where it recently started shipping steel-making coal from a small mine, amid uncertainty over Indonesian regulations and a weak outlook for coal.
BHP owns a 75 percent stake in the IndoMet Coal project, having sold the rest to Indonesia's Adaro Energy in 2010 for US$335 million. Coal asset prices have collapsed since then, and analysts said BHP would be lucky to fetch $200 million now for the stake in a largely undeveloped resource.
State-controlled mining company PT Bukit Asam reported a 14 percent year-on-year (yoy) sales increase during this year’s first quarter amid gradually rising coal prices. The company reported that during the first three months of the year it sold 5.23 million tons of coal compared to 4.57 million tons during the same period last year.
A new app is promising to replace the CB radio, long the only form of communication for truckers. Does the appl deliver on its promise? The makers of TruckChat say their phone app is "like having a free digital CB," but does it live up to that claim?
The local operations of global oil and gas giants Chevron Pacific Indonesia and Japan’s Inpex are laying off workers to cut costs amid a global oil slump. The Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) revealed that Chevron had already reduced its number of employees by 750, half of a plan to cut a total 1,500 workers between January and April this year.
The fate of PT Freeport Indonesia’s mandatory divestment process remains unclear as the Indonesian government has said the price offered by the gold and copper mining company is too expensive. Freeport Indonesia is 90.64 percent owned by US-based Freeport McMoran, and 9.36 percent owned by the Indonesian government.
The government will overhaul the management of the oil and gas sector in the country by giving more authority to state-owned company Pertamina and establishing another state enterprise with special duties. The overhaul in the oil and gas business will be part of a proposal to be included in the draft revision to the Oil and Gas Law No. 22/2001.
Kazakhstan is currently negotiating terms of a memorandum of understanding (MoU) with Indonesia for further oil and gas exploration in the former's territory. The signing of the MoU, which was initiated by Indonesia and encompasses oil, gas and other energy sectors, was previously scheduled for an earlier date, but was postponed due to technical difficulties.