Latest news with #PertaminaInternationalShipping
Business Times
2 days ago
- Business
- Business Times
Indonesia's Pertamina seeks US$700 million loan to build vessels: sources
[JAKARTA] Indonesia's state-owned oil giant Pertamina and its shipping arm are seeking an offshore loan of about US$700 million for the construction of vessels, according to people familiar with the matter. Pertamina sent a request for proposals to banks for the loan in recent weeks, seeking a tenor of around ten years, the people said, who asked not to be named discussing private matters. The company and Pertamina International Shipping will be the borrowers of the proposed facility, they added. Discussions with lenders are preliminary and the deal's details could change, the people said. Pertamina International Shipping is seeking funds to support its fleet investment plan to strengthen its logistic services and boost business growth, said Muhammad Baron, PIS' company secretary to Bloomberg News when asked about the loan, without elaborating further. Indonesia's financial markets bounced back recently after a torrid few months, with global funds snapping up US$1.5 billion of government bonds in May, according to data compiled by Bloomberg. The country's offshore syndicated loans also took off in recent weeks, potentially marking a comeback after a period of muted activity. Sovereign wealth fund Danantara recently sent a request for proposals to banks for a multicurrency borrowing of as much as US$10 billion, in what could be South-east Asia's largest loan. Meanwhile, Indonesia's Ministry of Finance is marketing a 252.8-million euro (S$379.2 million) facility, a rare instance of the government body tapping the syndicated market. The Pertamina loan comes as Indonesian authorities investigate a US$12 billion corruption probe involving the oil giant. In May, Indonesian authorities contacted a number of Singapore-based trading companies to request their cooperation, and executives from Pertamina subsidiaries were arrested in February. The volume of loans denominated in US dollars, euro and the Japanese yen – also known as G3 currencies – from Indonesia slumped 27 per cent to US$3.9 billion so far in 2025 versus the same period last year, according to Bloomberg-compiled data. Pertamina International Shipping last raised a US$185 million syndicated loan in February 2023. Meanwhile, the group's upstream unit Pertamina Hulu Energi last week signed a US$1.2 billion revolving credit facility. BLOOMBERG
Bloomberg
2 days ago
- Business
- Bloomberg
Indonesia's Pertamina Seeks $700 Million Loan to Build Vessels
Indonesia's state-owned oil giant PT Pertamina and its shipping arm are seeking an offshore loan of about $700 million for the construction of vessels, according to people familiar with the matter. Pertamina sent a request for proposals to banks for the loan in recent weeks, seeking a tenor of around ten years, the people said, who asked not to be named discussing private matters. The company and Pertamina International Shipping will be the borrowers of the proposed facility, they added.
Yahoo
22-05-2025
- Business
- Yahoo
Bumi Armada's subsidiary signs contract for Kojo block in Indonesia's Makassar Strait
Bumi Armada's subsidiary, Armada Kojo, has entered a production sharing contract (PSC) with Indonesia's Ministry of Energy and Mineral Resources for the exploration and development of the Kojo block in the Makassar Strait. The company holds a 100% participating interest and will operate the PSC, which spans an area of 8,473km² with varying water depths. The Kojo PSC area is estimated by MIGAS to contain 90.2 million barrels (mbbl) of oil and 2.1 trillion cubic feet (tcf) of gas. Bumi Armada plans to acquire new seismic data and integrate it with existing subsurface information to assess the block's development potential. This initiative is part of the company's strategy to capitalise on oil and gas discoveries using its expertise in floating production systems including floating production storage and offloading and potential floating liquefied natural gas facility or pipeline solutions. This contract marks Bumi Armada's second operated PSC in Indonesia following the Akia PSC. The company's strategic move aligns with its focus on developing oil and gas fields by leveraging its core competencies. In September 2023, Bumi Armada had also entered into a non-binding agreement with Pertamina International Shipping and Davenergy Mulia Perkasa to develop and market LNG, aiming to commercialise the Madura gas field and adjacent areas. Pertamina International Shipping, the marine logistics wing of state-owned Pertamina, and Davenergy Mulia Perkasa, a natural gas trading company, are key partners in this endeavour. Meanwhile, Indonesia is looking to increase energy imports from the US by purchasing additional crude oil and liquefied petroleum gas, with deals valued at approximately $10bn (Rp163.4trn), as part of a broader strategy to balance trade with the US and avoid significant tariffs on exports. "Bumi Armada's subsidiary signs contract for Kojo block in Indonesia's Makassar Strait" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Bumi Armada's subsidiary signs contract for Kojo block in Indonesia's Makassar Strait
Bumi Armada's subsidiary, Armada Kojo, has entered a production sharing contract (PSC) with Indonesia's Ministry of Energy and Mineral Resources for the exploration and development of the Kojo block in the Makassar Strait. The company holds a 100% participating interest and will operate the PSC, which spans an area of 8,473km² with varying water depths. The Kojo PSC area is estimated by MIGAS to contain 90.2 million barrels (mbbl) of oil and 2.1 trillion cubic feet (tcf) of gas. Bumi Armada plans to acquire new seismic data and integrate it with existing subsurface information to assess the block's development potential. This initiative is part of the company's strategy to capitalise on oil and gas discoveries using its expertise in floating production systems including floating production storage and offloading and potential floating liquefied natural gas facility or pipeline solutions. This contract marks Bumi Armada's second operated PSC in Indonesia following the Akia PSC. The company's strategic move aligns with its focus on developing oil and gas fields by leveraging its core competencies. In September 2023, Bumi Armada had also entered into a non-binding agreement with Pertamina International Shipping and Davenergy Mulia Perkasa to develop and market LNG, aiming to commercialise the Madura gas field and adjacent areas. Pertamina International Shipping, the marine logistics wing of state-owned Pertamina, and Davenergy Mulia Perkasa, a natural gas trading company, are key partners in this endeavour. Meanwhile, Indonesia is looking to increase energy imports from the US by purchasing additional crude oil and liquefied petroleum gas, with deals valued at approximately $10bn (Rp163.4trn), as part of a broader strategy to balance trade with the US and avoid significant tariffs on exports. "Bumi Armada's subsidiary signs contract for Kojo block in Indonesia's Makassar Strait" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
